Submitted by ThrowawayWillRI t3_10b54p5 in RhodeIsland
weaselpoopcoffee1 t1_j49fxx7 wrote
Reply to comment by LearnByDoing in Do I need to pay taxes when I receive a life insurance payout? by ThrowawayWillRI
Worked in life insurance for many years. No tax on proceeds. You may receive a 1099 for any interest paid on the proceeds if they exceed 10 bucks.
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