Submitted By: someone
Answered: June 16, 2019 9:30 pm

Is the union-provided death benefit I received as a surviving spouse taxable?

The exclusion of up to $5,000 for death benefits no longer applies. It had applied only for employees who died before August 21, 1996. Only a death gratuity paid to a survivor of a member of the Armed Forces continues to be excludable from gross income.

advertisement
Tax Glossary

Section 179 deduction (or First-year expensing)

A deduction allowed for investments in depreciable business equipment in the year the property is placed in service.

More terms