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Question

Life insurance

Forum|Forum|2 years ago
October 25, 2023
1 reply
0 views

My dad passed away this year and I am one of his beneficiaries. Do I need to pay taxes on the life insurance check that I received? How do I go about doing that?

Ask the Experts - Extension - Sept 2023

Employee Tax Expert

Employee Tax Expert

Hello:

The life insurance proceeds you received are generally not taxable. There are some exceptions which likely do not apply to you - see the link below for further details:

https://turbotax.intuit.com/tax-tips/general/is-your-life-insurance-taxable/L0GiBZdB6#GoTo-Non-taxable-life-insurance-benefits

Have an amazing day. Evelyn M (CPA 20+ years). I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer".