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trinitystrix1
New Member

Do I report life insurance money I received from a deceased parent?

I need to know if I need to pay taxes on it
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‎March 25, 2024 7:52 PM
last updated ‎March 25, 2024 7:52 PM
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3 Replies
Bsch4477
Level 15
Level 15

Do I report life insurance money I received from a deceased parent?

No. That is not taxed. 

‎March 25, 2024 8:09 PM
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DavidD66
Expert Alumni
Expert Alumni

Do I report life insurance money I received from a deceased parent?

No.  You do not need to report the proceeds you received as the beneficiary of a life insurance policy.  It is not taxable and does not have to be reported on your tax return. 

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‎March 25, 2024 8:10 PM
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VolvoGirl
Level 15

Do I report life insurance money I received from a deceased parent?

But they might have paid some interest after death on it.  That will be taxable on a 1099-INT.  My husband died last year and I got a 1099-INT with some interest from the insurance company.  

‎March 25, 2024 9:05 PM
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