Where To Report Life Insurance Proceeds On 1040?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    In most situations life insurance proceeds are not taxable as income.  You do not have to worry about reporting on 1040.  If there is a sizable estate then it is best to consult your tax adviser to determine whether the proceeds are taxable or  not.  These situations are very rare.
    Answered on October 7, 2013
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