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Submitted By: Helen
Answered: April 15, 2014 8:30 am
Answered: April 15, 2014 8:30 am
Is the $255 death benefit from Social Security that I received when my spouse died taxable?
No. This lump-sum death payment is tax free.
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Tax Glossary
Salvage value
The estimated value of an asset at the end of its useful life. Salvage value is ignored by ACRS and MACRS rules.
