personal injury

[Kram BergGold]

If a person is killed and the heirs get a settlement due to the accident which killed him, I assume this is non taxable income to the heirs, correct?.

[sea-tax]

If a person is killed and the heirs get a settlement due to the accident which killed him, I assume this is non taxable income to the heirs, correct?.

I think you need to know how the settlement was classified. Was it for personal injury, punitive damages, medical reimbursement or the like.

[Kram BergGold]

Personal injury

Clearly anything received other than for personal injury is taxable. I just want to be sure heirs get non taxable treatment just as the injured person would.

[roger123]

I think its non Taxable