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TIAMV
Level 2
January 25, 2025
Question

LUMP SUM DEATH BENEFIT PAYMENT

  • January 25, 2025
  • 1 reply
  • 0 views

I received a lump sum death benefit in Jan 2025 for mother's passing in 2024 but did not receive a 1099R. Do I still include it as income?

    1 reply

    MaryK4
    MaryK4
    Level 15
    January 25, 2025

    If the lump sum death benefit was for a life insurance policy, you would not pay income tax on it so you would not have to include it as income on your tax return.  If it is an annuity benefit, you would receive a 1099-R- these are not due to the IRS until January 31st, so the company may not have them filed yet.  

     

    I am sorry for your loss.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
      T
      TIAMVAuthor
      Level 2
      January 25, 2025

      Thank you. 

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