Accelerated death benefits received by a terminally ill person may be excluded from taxable income.

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According to the IRS, accelerated death benefits paid to a terminally ill person are generally excluded from taxable income. However, there may be certain restrictions and conditions that apply, depending on the specific circumstances. It's always a good idea to consult with a tax professional to ensure that you understand the implications of any financial transaction.

Accelerated Death Benefits Received by a Terminally Ill Person May