Do I have to pay taxes for my mom's life insurance policy that I received?

Marilylu · ‎October 25, 2023

My mom had a life insurance policy that listed me as the dependent, do I have to pay taxes on it?

evelynm · ‎October 25, 2023

Hello:

The life insurance proceeds you received are generally not taxable. There are some exceptions which likely do not apply to you - see the link below for further details:

https://turbotax.intuit.com/tax-tips/general/is-your-life-insurance-taxable/L0GiBZdB6#GoTo-Non-taxab...

Have an amazing day. Evelyn M (CPA 20+ years)
I would love a thumbs up 🙂 + Mark the post that answers your question by clicking on "Mark as Best Answer"

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evelynm · ‎October 25, 2023

Hello:

The life insurance proceeds you received are generally not taxable. There are some exceptions which likely do not apply to you - see the link below for further details:

https://turbotax.intuit.com/tax-tips/general/is-your-life-insurance-taxable/L0GiBZdB6#GoTo-Non-taxab...

Have an amazing day. Evelyn M (CPA 20+ years)
I would love a thumbs up 🙂 + Mark the post that answers your question by clicking on "Mark as Best Answer"

ee-ea · ‎October 25, 2023

You do not pay taxes on the death benefit.

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Do I have to pay taxes for my mom's life insurance policy that I received?