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Inheritance NOR life insurance payouts are considered income by the IRS: https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disabi
by onlyrealcuzzo 5y ago
Inheritance NOR life insurance payouts are considered income by the IRS: https://www.irs.gov/faqs/interest-dividends-other-types-of-income/life-insurance-disability-insurance-proceeds#:~:text=Generally%2C%20life%20insurance%20proceeds%20you,report%20it%20as%20interest%20received https://www.irs.gov/faqs/interest-dividends-other-types-of-i....
- jfrunyon 5y agoUhh, inheritance definitely counts as income, but I'm not sure what income taxes have to do with what we were discussing. The supposed numbers you pointed to don't come from the IRS.