Legal Question in Insurance Law in California
life insurance
Is a death benefit from an insurance taxable, if i am retired
Asked on 11/08/08, 12:56 pm
1 Answer from Attorneys
Steven Murray
Steven W. Murray, APC
Re: life insurance
An ordinary life insurance death benefit is not subject to income tax. It may be taxable in the decedent's estate for death taxes depending on the size of the taxable estate.
Answered on 11/10/08, 3:19 pm
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