Archive for December, 2008
How is NJ and Federal Estate and Income Tax handled for annuities and life insurance?
Elisabeth F asked: Serving as executor – both parents passed in 2005. How is the Estate and Income Tax handled for both New Jersey and Federal returns on Annuities and Life/Term Insurance. Not sure what is taxable as Income and what is taxable to Estate. Also, not sure who pays the taxes, beneficiary or estate [...]
