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tcflash1
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We rec'd payments from Aflac for major illness diagnosis and hospitalization. Taxable income?

 
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IreneS
Expert Alumni

We rec'd payments from Aflac for major illness diagnosis and hospitalization. Taxable income?

No.  The proceeds of an accident and health policy, like AFLAC are not reportable as income so long as you did not deduct the premiums and as long as this is not an employer provided fringe benefit.  [If it is, you may receive a W-2 form from your employer that will include the taxable benefits amount you received.]


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IreneS
Expert Alumni

We rec'd payments from Aflac for major illness diagnosis and hospitalization. Taxable income?

No.  The proceeds of an accident and health policy, like AFLAC are not reportable as income so long as you did not deduct the premiums and as long as this is not an employer provided fringe benefit.  [If it is, you may receive a W-2 form from your employer that will include the taxable benefits amount you received.]


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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