Submitted By: Helen
Answered: April 15, 2014 8:30 am

Is the $255 death benefit from Social Security that I received when my spouse died taxable?

No. This lump-sum death payment is tax free.

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Tax Glossary

Carryforward

A tax technique of applying a loss or credit from a current year to a later year. For example, a business net operating loss may be carried forward 20 years instead of being carried back.

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