Legal Question in Tax Law in Utah

401 k inheritance.

My Husband passed away and I will be getting about $7000. from his 401k Will I have to pay any penalties and any taxes on this money. He also has a $ 10000 life insurance policy will I have to pay taxes on that money?


Asked on 6/22/08, 1:17 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: 401 k inheritance.

Life insurance is generally tax free. Benefits from a 401(k) usually are taxable. Talk to a tax professional.

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Answered on 6/23/08, 1:17 pm


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