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    savanah2006's Avatar
    savanah2006 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 26, 2008, 10:08 AM
    Tax on inhertance
    I did not work in 07. My father died in 07 and left me some insurance policy money. Do I pay taxes on this? Is it considered income?
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #2

    Jan 26, 2008, 05:43 PM
    Not taxable. Code § 101.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jan 27, 2008, 09:27 PM
    Agreed; definitely NOT taxable.
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