I am father's legal guardian. Once he passed, I submitted the claim for a $10,000 life insurance payment. The payment will be split among the 4 of us siblings. what now?

[rebekahaguirre]

The payment will be $2500 each sibling. How do I claim on this. The $10,000 will come in my name but be dispersed out.

[MichaelL1 · Accepted solution]

The life insurance is not taxable income and does not need to be reported on your return, so the fact that you are splitting it will not matter.