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If I received a payment from an accident insurance benefit policy, is the amount received taxable?

I fell and submitted a claim to my hospital indemnity and accident insurance and received a check from both of them. Is the money taxable?
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1 Reply
ThomasM125
Expert Alumni

If I received a payment from an accident insurance benefit policy, is the amount received taxable?

It would only be taxable to the extent of the amount you received that was more than the cost of the medical bills you had to pay associated with the accident.

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