Tag: taxes

Are life insurance proceeds income taxable?

Answer: In general, life insurance proceeds paid to you because of the death of the insured are not subject to federal income tax. To qualify for such favorable tax treatment, the life insurance contract must meet certain IRS requirements. However, proceeds may be taxable in limited cases. For instance,...
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Investment Income taxes

Do I have to pay an additional tax on investment income? You might, depending on a few important factors. A 3.8% net investment income tax is imposed on the unearned income of high-income individuals. The tax is applied to an amount equal to the lesser of: Your net investment...
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