dwp Asked July 2010

Taking care of parent in my home. After their death I am paid "compensation" of $111,000 from estate for 5 years of care. Is the payment taxable?

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Taking care of parent in my home. After their death I am paid "compensation" of $111,000 from estate for 5 years of care. Is the payment taxable?

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EXPERT Carol Bradley Bursack Jul 2010
I would assume it is. You'd have to check with a CPA to be sure. But it is income, so likely it's taxable.
Carol
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