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shirleygirl22-
New Member

I received a $2500.00 check for a life insurance policy for my wife upon her death in 2018. I understand I do not have to claim it as income,correct?

 
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HelenaC
New Member

I received a $2500.00 check for a life insurance policy for my wife upon her death in 2018. I understand I do not have to claim it as income,correct?

That is correct. Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, aren't includable in gross income and you don't have to report them. However, any interest you receive is taxable and you should report it as interest received. 

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HelenaC
New Member

I received a $2500.00 check for a life insurance policy for my wife upon her death in 2018. I understand I do not have to claim it as income,correct?

That is correct. Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, aren't includable in gross income and you don't have to report them. However, any interest you receive is taxable and you should report it as interest received. 

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