Level 1

Life Insurance Distribution

Forum|Forum|5 years ago
July 20, 2020
2 replies
23 views

If a spouse inherits money ($250,000) from her husbands life insurance policy (tax free), can she then distribute $50,000 to each of their four children without having to file Form 709?

This topic has been closed for replies.

George4Tacks

Level 15

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

Answers are easy. Questions are hard!

IRonMaN

Level 15

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

That canned wording is really lame and it gets lamier the more times I see it. But then again, that is Intuit's answer to installing a barn door. Just think if Intuit had been hired to build the Great Wall of China. Instead of a wall there would have been a few stones scattered along the border saying "You have come to China but you may be looking for Russia. Cheers!"

Slava Ukraini!