It depends on the law in Florida so you will want to a wrongful death or tax attorney in Florida. In many states there are beneficiaries that may include the estate or designated beneficiaries. Depending on what type of damages are awarded, the amount of the award and depending upon who the damages are awarded to, the result may change. Whether the damages are by way of settlement with a general release or by verdict may also affect the result. You should talk with local lawyers in Florida who deal with taxation and/or wrongful death. Best wishes.
You need to consult with a local personal injury attorney or tax attorney for an answer to your specific question and circumstances.
Generally personal injury settlements are not considered income. But if the claim was filed on behalf of the estate and included economic damages, the answer may not be so simple. Failure to pay taxes can result in substantial penalities not to mention criminal prosecution. So it is important you get an authoritative answer involving your specific circumstances.
The information provided is for general informational purposes only and is not intended to be legal advice. I am only licensed in the State of California and I am not providing you with specific legal advice. The law changes frequently and varies from jurisdiction to jurisdiction. Being general in nature, the information provided may not apply to any specific factual and/or legal set of circumstances and/or the jurisdiction where you reside. No attorney-client relationship is formed nor should any such relationship be implied. The information provided is of a general nature is not intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction. Your question, although you may believe is simple, it is not simple. You require legal advice, please consult with a competent attorney licensed to practice in your jurisdiction.
The estate should have a lawyer, and part of the lawyers job is either answering questions like this, or helping the estate hire a CPA or accountant who can handle the tax issues and filings.
As answered previously in your other posting, this is a question to be posed to the estate lawyer that handled the wrongful death suit or the probate lawyer representing the PR. If you are the PR (personal rep) and somehow don't have a lawyer, you need to get one ASAP, before you make a mistake with the funds and someone such as a creditor, lien holder or a governmental entity sues you personally.
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