Answered

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For federal tax purposes, which of the following is true regarding lump-sum life insurance benefits?

Sagot :

Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.

What is tax?

A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.

For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.

Learn more about tax on:

https://brainly.com/question/9437038

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