I received the Quebec death benefit of 2500, to help with the costs of the funeral for my dad. Does this go on my tax return or on the estates tax return?.

I received the Quebec death benefit of 2500, to help with the costs of the funeral for my dad. Does this go on my tax return or on the estates tax return?

I am his only son and the executor of the estate. Also my dad received a small insurance cheque upon his death from his employer that went to me, where does this go my tax return or on the estates tax return?



Answer

The Death Benefit is income of the Beneficiaries. And reported on their personal tax returns based on the proportionate share of the Estate.

You may also elect to report the income on a T3 Trust return, however Turbo Tax does not provide any guidance or support for "Optional Tax Returns". Contact CRA for additional information as tax rules have changed substantially for Trust Income.

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