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I received a check from a life insurance policy in Washington

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I received a check from a life insurance policy in Washington state. How much do I need to set aside for tax purposes?
Welcome, THANK YOU for using Just Answer. My goal is to help make your life...a little...LESS taxing.

Were the proceeds death benefits from a policy? If so, the following applies, and the proceeds are not taxable.


Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you for a price. This is true even if the proceeds were paid under an accident or health insurance policy or an endowment contract. However, interest income received as a result of life insurance proceeds may be taxable.


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