Zero. Zip. Zilch.

Never pay interest with a Refund Advance loan¹⁰⁹

This is an optional tax refund-related loan from Axos Bank™, Member FDIC; it is not your tax refund. Loans are offered in amounts of $500, $750, $1250 or $3000. Approval and loan amount based on expected refund amount, ID verification, eligibility criteria, and underwriting. If approved, funds will be loaded on a prepaid card and the loan amount will be deducted from your tax refund, reducing the amount paid directly to you. Tax returns may be e-filed without applying for this loan. Fees for other optional products or product features may apply. Limited time offer. Available at participating locations. Not offered in Puerto Rico. HRB Maine License No. FRA2. OBTP#B13696 See hrblock.com/refundadvance for details. ©2018 HRB Tax Group, Inc.

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Tax Information Center : Income : Other Income

Question

I’m the beneficiary of an insurance payout on the death of a relative — Is a life insurance payout taxable?

Answer

Regarding your question: Is life insurance payout taxable income, no, the IRS does not consider life insurance payouts taxable income.

However, life insurance payout taxable interest issues might arise if you earn interest on the payouts after the relative dies. If so, you’ll need to report this as taxable interest on your return.

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