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Where do I record a life insurance policy received upon my mothers death?

I received money from her life insurance  policy...It was taxed, where do I report it?
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2 Replies

Where do I record a life insurance policy received upon my mothers death?

Life insurance proceeds are generally not taxable.  Did you receive a 1099-R for it, or any interest on it?

Carl
Level 15

Where do I record a life insurance policy received upon my mothers death?

A life insurance payout to the beneficiary of a deceased person isn't reportable on any tax return. However, any earnings that may have accumulated after the insured passed away, may be taxable to the beneficiary recipient. If they are, then you would have received some type of tax reporting document for that. Usually a 1099-R, but could be a 1099-INT or something else, depending on the specific type of policy the insured had.

 

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