life insurance

[Tinabrookyln]

Hi I RECENTLY RECIEVED A LUMP SUM BENEFICIARY LIFE INSURANCE IS THAT CONSIDER INCOME

[jeffmcpa2010]

Please remove the cap's lock.

Why would the life insurance be considered income?

[BobKamman]

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.

[Tinabrookyln]

NO I AM A TAX PREPARER, BUT I NEVER DID A LIFE INSURANCE POLICY BENEFICIARY THAT IS WHY I AM ASKING THE QUESTION.

[Tinabrookyln]

I thought this is a program that helps Tax Preparer with their questions, instead I am getting corrected and I am told go somewhere else.

[Tinabrookyln]

I went to the net and posted my question, and I received the answer to my question about, If a beneficiary life insurance funds are taxable. the answer no. THANKS FOR NOTHING! posting for those who need help in the future.

[Camp1040]

You should have done your research first!. Maybe IRS.GOV instead of google.

[IRonMaN]

You are certainly welcome!  Thanks for coming!  

[ljr]

Even after 30 years of doing taxes every year I purchase a quickfinder handbook - it is also a great place to start to get answers.

[PATAX]

@IRonMaN Oh yeah!....

[rcooley25 · Accepted solution]

There was a time earlier on where I got a lot of negative responses to my questions, Some seem to get upset real easy, But the longer I stayed with this I found that the majority of the people are great and willing to help. Dont let the few oddballs get the best of you.

[qbteachmt]

"I thought this is a program that helps Tax Preparer with their questions"

It's a Peer User Community on the internet. It's not Customer Support or Tech Support. And ALL CAPS is the same as SHOUTING at all of us. I am sure you don't intend to be rude like that. It also is hard to read, after a while.

"I went to the net and posted my question"

And you still are on the "net".

One thing to note is that it helps to try to find your own answer from the resources we all have available, rather than asking for something we would just be looking up for you. There are a lot of topics up in the air and changes pending, but some things are pretty easy to find from the IRS and from the web.

[Taxprohere]

@IRonMan

🙉  ooow, I can hear the dripping dryness from the brevity of sarcasm well placed.

[IRonMaN]

Me?  Sarcasm?  Are you serious?  I don't know what that word means.🤔

[BobKamman]

I thought this was a place that helps tax preparers with questions from clients that are beyond the first day's lesson in Income Tax 101, not with their own questions about their personal returns.  

[abctax55]

@Tinabrookyln   "....THANKS FOR NOTHING!...."

Well, you got what ya' paid for.

None of us "OWE" you an answer.

Good luck going forward.

[PATAX]

@IRonMaN @BobKamman @Taxprohere @Camp1040 @ljr @jeffmcpa2010 👍....Iron Man you are the best ... I hear a song playing on my wack phone: "Don't go away mad....Just go away".....just joking..😉😀😆

[PATAX]

@abctax55 isn't there a saying: "Don't let the door hit you in the %&#"...just joking....😉😀😆

[abctax55]

To me, this 'entitlement' mentality is a pox on society. 

Yep, I sound old, 'cuz I AM old. 

But I grew up/learned thru school/ and life in general to be self-sufficient (well before the ability to google most anything/everything).  

[rcooley25]

I am old also.

The day I was born Adolph Hitler was still raising hell in Germany and my Dad was driving a truck for General Patton.

[rcooley25]

Yes that is  why I have such a sore behind.

[rcooley25]

You are out of line with that response.  The person was asking for help and it was not given.

[rcooley25]

This person has been greatly misunderstood. It was for someone elses tax retuen that was being prepared.

[sjrcpa]

But OP stated "I recently received..." OP created the misunderstanding with that statement, as well as a poorly worded question while SHOUTING at us.

[IRonMaN]

And got pissy awfully quick.  Respect is a two way street.  Once you cutoff the other driver and give him the finger, you pretty much put an end to having a friendly conversation.

[abctax55]

Susan... wrong.... "... recieved"

[sjrcpa]

Oops.

[BobKamman]

@IRonMaN You can use the letters in IronMan Sarcasm to spell Mr Maniac Arsons

[PATAX]

@IRonMaN correct me if I am wrong, but when a wolf enters the territory of another wolf pack, that wolf should not exhibit what may be perceived as aggressive behavior towards that wolf pack. If that wolf does, then sometimes it is not accepted by that wolf pack. Heidi showed me this, as she is descended from the original German Shepherd wolf dog from Alsace-Lorraine. What is interesting is the gentleman who started the breed was of the Nobility in Alsace-Lorraine, and that is where the noble branch of one of the branches of my family started before they migrated to Eastern Europe. By the way, "Heidi" means "Noble" .......      Just my opinion...🐕☝🙂

[Tinabrookyln]

Thank you!

[Tinabrookyln]

Thank You!

[Tinabrookyln]

Thank You!

[qbteachmt]

It's not a wolf pack. It's a group of co-workers around a virtual water cooler, and no one here works for Intuit unless you see Intuit as part of their username or user tag. Everyone that mistakes this for "support" has done exactly what Intuit hoped for = eliminated the expectation that there would be paid end user support unless you can show there is a problem with the programming. And even then, well, you've seen how well that goes...

[PATAX]

@qbteachmt I used the wolf pack  as a metaphor. 🐺