As beneficiary of a whole life insurance policy, what portion of the proceeds are taxable, the base policy amount (eg 10,000), the amount that appreciated of the years beyond the paid in full date (eg 3,500), or the entire amount of the payment to me (eg 13,500)?
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.
Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.