Does Kentucky Tax Life Insurance Benefits?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Kentucky does not charge income tax on life insurance benefits if they are left to a person, rather than the estate. If life insurance goes through probate, it will be taxed. Life insurance benefits are charged Kentucky inheritance taxes, with varying degrees of exemptions given to different types of heirs. They are also subject to federal estate taxes if of a sufficient amount, and in the estate of the last remaining spouse.
    Answered on September 7, 2013
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