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Level 2
posted Oct 25, 2023 11:13:39 AM

Life insurance

My dad passed away this year and I am one of his beneficiaries. Do I need to pay taxes on the life insurance check that I received? How do I go about doing that?

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1 Replies
Employee Tax Expert
Oct 25, 2023 11:18:29 AM

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-taxable-life-insurance-benefits