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Auto Insurance payment for death - Taxes?

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C

cimm34

Junior Member
What is the name of your state? IL

My mom was killed by a drunk driver and I was told by my lawyer that we would be receiving money from her insurance policy. I was just wondering if one has to pay taxes on that money and what the percentage would be? Thanks for any help.
 


M

moburkes

Senior Member
cimm34 said:
What is the name of your state? IL

My mom was killed by a drunk driver and I was told by my lawyer that we would be receiving money from her insurance policy. I was just wondering if one has to pay taxes on that money and what the percentage would be? Thanks for any help.
Click to expand...
You should put this under the tax forum. I'm going to guess that it is not taxable. Sorry about your mom.
 
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