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I received a lump sum disability check. it was a personal policy. i paid all the premiums out of pocket. is the payment from the self paid insurance taxable?

 
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2 Replies
SharonD007
Expert Alumni

I received a lump sum disability check. it was a personal policy. i paid all the premiums out of pocket. is the payment from the self paid insurance taxable?

Please clarify if you received a tax form for your payment.

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ThomasM125
Expert Alumni

I received a lump sum disability check. it was a personal policy. i paid all the premiums out of pocket. is the payment from the self paid insurance taxable?

Since you paid the premiums for the policy, the benefits are not taxable. This is assuming the premiums were not paid through you job, with pre-tax money.

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