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Is a car insurance payout for a death taxable income?
My husband was hit by a car and killed in 2019. The driver was never identified and my car insurance covered the death (under the uninsured/underinsured driver) even though my husband was a pedestrian and our vehicle was not involved in the accident. The insurance settlement was paid to me in 2020. Is this considered taxable income? How do I report it?
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‎January 8, 2021
5:58 PM