Solved: Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?
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Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?

 
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Employee Tax Expert

Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?

No, the partial disbursement of your mother's life insurance proceeds are not reported on your tax return. This is inheritance and not taxable to you.

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Employee Tax Expert

Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?

Can you explain further? You received $35k from your mother-as a gift?
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Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?

My mother passed and left most assets to the trust that I am the PR for. It will come to me eventually but she passed in July...  my lawyer allowed a small dispersal. The trust will pay taxes on the annuities but there was also life insurance
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Employee Tax Expert

Do I report a $35,000 dispersal from my mother which contains $85,000 from her life insurance?

No, the partial disbursement of your mother's life insurance proceeds are not reported on your tax return. This is inheritance and not taxable to you.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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