Is a life insurance death benefit consdred taxable income, if so how is it entered

[AnnaB · Accepted solution]

No, payouts from life insurance are not generally considered taxable income.  If any portion was considered to be interest, this would be taxable.

Please refer to the link below for additional information.

https://www.irs.gov/help-resources/tools-faqs/faqs-for-individuals/frequently-asked-tax-questions-an...