Do I have to claim the money I received from my mother's life insurance policy in 2016?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Do I have to claim the money I received from my mother's life insurance policy in 2016?

Beneficiaries of life insurance policies do not report the benefit as income on their tax return. Sometimes the policy will earn interest before it is paid out and the interest is taxable.

View solution in original post

1 Reply

Do I have to claim the money I received from my mother's life insurance policy in 2016?

Beneficiaries of life insurance policies do not report the benefit as income on their tax return. Sometimes the policy will earn interest before it is paid out and the interest is taxable.