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Are death benefits taxable ?

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Are death benefits taxable ?

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My Father-in-law just died. My wife and her brother are the beneficiaries. Are the procedes from his annuity taxable income for them. Once his house is sold his total estate is worth about $ 400,000.00. He lived and died in NY and we live in Connecticut.

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Death benefits for active employees and their dependents are provided through a group life arrangement with Union Labor Life Insurance Co. These benefits qualify for the exclusion to gross income under the Internal Revenue Code. Therefore, the benefits paid to the beneficiary are not taxable.

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