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honey
Lv 4
honey asked in Business & FinanceTaxesUnited States · 10 years ago

taxes on death benefit funds?

I received a check from my husbands death benefit; I was told it was not taxable. I am earning interest (although it's a small amount). Do I claim this as income when tax-time rolls around?

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  • tro
    Lv 7
    10 years ago
    Favorite Answer

    when you get the 1099 there will be a code on the back side of the form which indicates the type of income it is

    if you are entering in a regular tax program, and enter this 1099 and indicate the code it will automatically not be included in the total of your income if it is a death benefit

  • shroud
    Lv 7
    10 years ago

    it's claimed as non taxable income

    Source(s): been there
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