Should I buy Rivian stock in 2025?
Is Rivian stock a buy right now?
As of 9 May 2025, Rivian (NASDAQ: RIVN) is trading at approximately $13.68, with a robust recent average daily volume of 32.25 million shares—evidence of strong investor engagement. The past month has seen the stock rebound by more than 16%, buoyed by notable milestones: a second consecutive quarter of positive gross profit, and a newly secured $1 billion investment agreement with Volkswagen Group slated for the end of June. The progress towards the launch of the more affordable R2 SUV and expansion of commercial partnerships underscore Rivian’s commitment to growth beyond its original adventure segment. While recent adjustments to annual delivery guidance reflect global trade headwinds, the market response has remained constructive, with analysts viewing these hurdles as manageable for a well-capitalised innovator. In Singapore, where investor appetite often favours technology-led companies tackling global challenges, Rivian stands out for its vertical integration and strong cash position, positioning it well for longer-term resilience. The consensus target price of $17.80, derived from more than 29 respected national and international banks, points to meaningful upside should Rivian maintain its current momentum and successfully execute its upcoming R2 platform strategy.
- ✅Secured $1 billion partnership and technology collaboration with Volkswagen Group.
- ✅Positive gross profit achieved for two consecutive quarters, with improving cost control.
- ✅Strong cash reserves of $7.18 billion ensure funding for ongoing expansion.
- ✅Rapid progress on the affordable R2 SUV platform for broader market reach.
- ✅Increased commercial van sales beyond Amazon, expanding revenue streams.
- ❌Adjusted 2025 delivery targets downward due to trade and tariff uncertainty.
- ❌Operational losses persist; path to consistent net profitability remains ongoing.
- ✅Secured $1 billion partnership and technology collaboration with Volkswagen Group.
- ✅Positive gross profit achieved for two consecutive quarters, with improving cost control.
- ✅Strong cash reserves of $7.18 billion ensure funding for ongoing expansion.
- ✅Rapid progress on the affordable R2 SUV platform for broader market reach.
- ✅Increased commercial van sales beyond Amazon, expanding revenue streams.
Is Rivian stock a buy right now?
As of 9 May 2025, Rivian (NASDAQ: RIVN) is trading at approximately $13.68, with a robust recent average daily volume of 32.25 million shares—evidence of strong investor engagement. The past month has seen the stock rebound by more than 16%, buoyed by notable milestones: a second consecutive quarter of positive gross profit, and a newly secured $1 billion investment agreement with Volkswagen Group slated for the end of June. The progress towards the launch of the more affordable R2 SUV and expansion of commercial partnerships underscore Rivian’s commitment to growth beyond its original adventure segment. While recent adjustments to annual delivery guidance reflect global trade headwinds, the market response has remained constructive, with analysts viewing these hurdles as manageable for a well-capitalised innovator. In Singapore, where investor appetite often favours technology-led companies tackling global challenges, Rivian stands out for its vertical integration and strong cash position, positioning it well for longer-term resilience. The consensus target price of $17.80, derived from more than 29 respected national and international banks, points to meaningful upside should Rivian maintain its current momentum and successfully execute its upcoming R2 platform strategy.
- ✅Secured $1 billion partnership and technology collaboration with Volkswagen Group.
- ✅Positive gross profit achieved for two consecutive quarters, with improving cost control.
- ✅Strong cash reserves of $7.18 billion ensure funding for ongoing expansion.
- ✅Rapid progress on the affordable R2 SUV platform for broader market reach.
- ✅Increased commercial van sales beyond Amazon, expanding revenue streams.
- ❌Adjusted 2025 delivery targets downward due to trade and tariff uncertainty.
- ❌Operational losses persist; path to consistent net profitability remains ongoing.
- ✅Secured $1 billion partnership and technology collaboration with Volkswagen Group.
- ✅Positive gross profit achieved for two consecutive quarters, with improving cost control.
- ✅Strong cash reserves of $7.18 billion ensure funding for ongoing expansion.
- ✅Rapid progress on the affordable R2 SUV platform for broader market reach.
- ✅Increased commercial van sales beyond Amazon, expanding revenue streams.
- What is Rivian?
- How much is Rivian stock?
- Our full analysis on Rivian </b>stock
- How to buy Rivian stock in Singapore?
- Our 7 tips for buying Rivian stock
- The latest news about Rivian
- FAQ
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At HelloSafe, our expert has been monitoring Rivian's performance for over three years. Every month, tens of thousands of users in Singapore rely on us to interpret market trends and highlight the most promising investment opportunities. Our analyses are produced strictly for informational purposes and do not constitute investment recommendations. In line with our ethical charter, we have never been, and will never be, compensated by Rivian.
What is Rivian?
Indicator | Value | Analysis |
---|---|---|
🏳️ Nationality | United States | Based in the US, Rivian targets North American and global electric vehicle markets. |
💼 Market | NASDAQ | Listed on NASDAQ, making the stock accessible to international retail investors. |
🏛️ ISIN code | US76954A1034 | Unique ISIN identifies Rivian shares for cross-border trading and investment. |
👤 CEO | Robert "RJ" Scaringe | Founder-led, Scaringe’s vision drives Rivian’s product and innovation strategies. |
🏢 Market cap | $15.68 billion | Reflects Rivian's status as an emerging player with significant future growth potential. |
📈 Revenue | $1.24 billion (Q1 2025) | Revenue beat expectations, showing increased demand and operational progress. |
💹 EBITDA |
| Negative EBITDA signals continued investment phase and lack of operational profitability. |
📊 P/E Ratio (Price/Earnings) | N/A (not profitable) | No P/E ratio since Rivian remains unprofitable; profitability timeline is a key risk. |
- $1.7 to
- $1.9 billion (2025E)
How much is Rivian stock?
The price of Rivian stock is rising this week. As of now, Rivian (RIVN) is trading at $13.68 USD, up 7.55% over the past 24 hours, though the stock has dipped by 1.08% over the past week.
Metric | Value |
---|---|
Market Capitalisation | $15.68 billion |
Average 3-Month Daily Volume | 32.25 million shares |
P/E Ratio | N/A (annual net losses) |
Dividend | None |
Beta | 1.87 |
With a beta of 1.87, this stock has demonstrated higher volatility than the broader market—making it an exciting, albeit riskier, option for Singapore investors looking at growth potential.
Check out the best brokers in Singapore!Compare brokersOur full analysis on Rivian stock
We have carefully reviewed Rivian Automotive’s most recent financial results and share price evolution over the past three years, combining deep-dive analysis of financial indicators, advanced technical signals, peer benchmarks, and market sentiment—leveraging proprietary data algorithms to distill leading signals. This multidimensional approach evaluates not only the numbers but also the strategic context, innovation pathways, and sector tailwinds shaping Rivian’s current position. So, why might Rivian stock once again become a strategic entry point into the global electric vehicle sector as we approach 2025?
Recent Performance and Market Context
Rivian’s stock has shown a pronounced resurgence, trading at $13.68 as of May 9, 2025, after a robust +16.23% increase over the past month and an impressive +33.2% surge over the trailing twelve months. Notably, the current share price stands well above its 20-, 50-, 100-, and 200-day simple moving averages (all between $11.90 and $12.69), reinforcing a structural break above key technical thresholds. The 52-week range ($9.50 – $18.86) hints that the current level is closer to the lower end, suggesting an attractive risk-reward skew for proactive participants.
- Q1 2025 earnings outperformance: Revenues reached $1.24 billion (above consensus), with a substantial narrowing of losses per share to $0.41 (versus expected $0.76), and a second straight quarter of positive gross profit, marking an inflection point on the road to profitability.
- Volkswagen partnership: The expected $1 billion strategic investment from Volkswagen Group not only brings significant liquidity, but also embeds deep technology sharing and manufacturing collaboration, a crucial validation by an industry incumbent.
- Expansion of commercial fleet business: Rivian's traction beyond its Amazon partnership, such as with HelloFresh, and broader EDV sales, unlock a powerful new revenue engine.
Against a backdrop of renewed global investor focus on next-generation transportation (supercharged by regulatory green mandates and rising consumer demand for sustainable mobility in Asia and worldwide), Rivian’s positioning could not be more favorable. In Singapore and broader Asia, the appetite for growth-centric tech equities—especially those at a juncture of fresh operational momentum—remains robust. The shift from struggle to traction is evident, suggesting the equity may be entering a new bullish phase, especially attractive for investors seeking exposure to the EV sector’s structural ascent.
Technical Analysis
Rivian’s technical landscape is increasingly constructive, as evidenced by a string of bullish indicators:
- Moving averages: The current price is firmly above all key moving averages—20-day ($12.41), 50-day ($11.90), 100-day ($12.69), and 200-day ($12.51)—affirming a bullish structure and signaling momentum strength.
- RSI (14) stands at 52.18, which is neutral, yet comfortably distanced from overbought levels, offering room for further upside without technical exhaustion.
- MACD (12,26,9) posts a positive 0.44, confirming underlying momentum and an ongoing trend reversal from previous corrective phases.
- Support levels at $13.25, $13.03, and $12.72 have recently held firm during pullbacks, while resistance at $14.15, $14.62, and $15.28 offer near-term upside milestones as catalysts emerge.
- Aggregate technical consensus: With 12 buy signals versus 5 neutral and 5 bearish, the weight of momentum lies decisively with the bulls.
Short- and medium-term structures remain favorable: The stock’s decisive break above the 9-day moving average underscores accelerating buyer appetite, while sustained volume confirms that institutional and retail conviction remains robust. All these signals reinforce the notion that Rivian currently represents an excellent opportunity for those looking to initiate or augment a position at what could become the base of a new uptrend.
Fundamental Analysis
Revenue Growth and Path to Profitability
Rivian’s Q1 2025 results exceeded both top- and bottom-line expectations, reflecting growing operational leverage:
- Revenue: $1.24 billion, a strong beat vs. consensus.
- Loss per Share: ($0.41), significantly narrower than estimates.
- Gross Profit: $206 million for Q1, now two straight quarters of positive gross margin—a rare feat for a new EV entrant.
- Vehicle Deliveries: 8,640 units, with full-year guidance at 40,000–46,000.
While annual profitability remains a forward-looking metric, this sequential improvement on gross profit and operating leverage lays a strong foundation for eventual breakeven, especially as R2 platform scaling reduces per-unit costs.
Valuation Attractiveness
- Price/Sales (P/S) stands at 2.88, reasonable given Rivian's high revenue growth and industry-defining partnerships. While the lack of a positive P/E or PEG ratio is characteristic of its growth phase, the improving gross margin trajectory justifies renewed fundamental interest.
- Price/Book (P/B) of 2.52 is competitive within the EV sector, especially for a premium/adventure-branded manufacturer with significant R&D capitalization.
Relative to the sector—where many high-multiplier EV stocks have lagged amid execution missteps—Rivian’s valuation multiples appear increasingly justified as the path to gross profitability becomes tangible.
Structural Strengths
Rivian’s integrated model (manufacturing, software, and services), brand resonance in adventure/lifestyle vehicles, and strategic global partnerships serve as meaningful barriers to entry. Key strengths include:
- Volkswagen partnership, a multi-billion-dollar technology and capital infusion.
- Vertical integration, allowing end-to-end control of product, customer experience, and recurring revenue (via software/fleet management).
- Premium brand differentiation, which commands pricing power and customer loyalty.
- Innovation pipeline: The R2 platform promises market expansion to a more affordable segment while leveraging proven R1-series technology.
Volume and Liquidity
Rivian’s sustained average daily trading volume of 32.25 million shares (over the prior three months) demonstrates ongoing and active market participation—an unmistakable indicator of market confidence and institutional engagement.
- Market Capitalization: $15.68 billion, reflective of its position as one of the leading U.S.-listed growth equities within the EV sector.
- Float/Shareholder Base: The stock's broad float is conducive to dynamic price discovery and reduces the volatility associated with concentrated holdings.
- Consistent volume not only underpins liquidity but also increases the likelihood of efficient price realization as positive catalysts materialise.
For Singaporean and regional investors accustomed to high-liquidity U.S. tech shares, Rivian offers exemplary access, permitting strategic accumulation as the story unfolds.
Catalysts and Positive Outlook
Several near- and medium-term drivers set the stage for potential outperformance:
Major Catalysts
- Volkswagen’s $1 Billion Infusion (June 2025): This not only addresses short-term capital needs but also paves the way for ongoing joint technology development.
- R2 Platform Launch: With manufacturing on track for the first half of 2026, the R2 is poised to radically expand Rivian’s TAM (total addressable market) through accessible pricing and greater scale.
- Commercial Van Diversification: The expansion of EDV sales beyond Amazon, including new contracts with HelloFresh and others, underpins a rapidly growing B2B segment.
- Software/Subscription Revenue: Platforms like FleetOS and the Adventure charging network position Rivian for recurring revenue—improving gross margin over time.
- Positive Gross Profit Trajectory: With management guiding for full-year positive gross profits, the fundamental shift toward operating profitability is no longer hypothetical.
Contextual Tailwinds
- Regulatory Support: Global and regional (ASEAN, Singapore) incentives for EV adoption remain strong, sheltering forward demand from cyclical headwinds.
- Consumer Trends: Younger, climate-conscious demographics in Asia and globally seek differentiated, sustainable transport—precisely Rivian’s sweet spot.
- ESG Credentials: Rivian’s carbon-conscious brand and supply chain is likely to appeal to institutional and sovereign wealth funds increasingly shifting capital toward ESG-centric portfolios.
As these catalysts come to fruition, the company seems perfectly poised to transition from promise to performance—a transition often associated with significant equity re-rating in growth industries.
Investment Strategies
Due to its convergence of technical base, improving fundamentals, and upcoming catalysts, Rivian appears well-suited to a variety of investment postures:
Short-Term Perspective
- Technical breakout above key moving averages and fresh bullish momentum argue for strategic entry now, with near-term catalysts (Volkswagen funding, R2 progress updates) acting as further price accelerants.
- Strong support levels around $13.00 strengthen risk/reward appeal for active traders.
Medium-Term Outlook
- The second half of 2025 is set to be eventful, with operational gains from the Normal, Illinois facility expansion, deliveries ramping up, and further evidence of margin improvements.
- The partnership with Volkswagen and broadening commercial van contracts could prompt upward valuation revision as financials inflect.
Long-Term Conviction
- For patient investors, the R2 platform launch in 2026 is a natural inflection point that could mark Rivian’s scale transition from niche to mainstream. With $7.18 billion in cash, the risk of capital shortfall is mitigated.
- If Rivian continues to deliver gross margin improvement and achieves positive EBITDA as guided, a re-rating is conceivable in the mid-term.
Optimal Positioning
- The current share price, just above a firm technical floor and ahead of material news flow, seems to represent an excellent entry zone—whether for dollar-cost averaging or more tactical accumulation around key catalysts.
Is It the Right Time to Buy Rivian?
Summing up, Rivian’s equity now stands at the nexus of robust fundamental improvement, confirmed technical strength, and imminent strategic catalysts:
- Gross profit inflection and revenue beats indicate that operational risks are diminishing.
- Volkswagen’s deep engagement signals high conviction by a global auto leader.
- Cash reserves and brand equity set Rivian apart from higher-risk EV peers.
- Technicals make a clear case for bullish momentum, while healthy liquidity ensures seamless execution.
- Exposure to the fastest-growing consumer and commercial EV segments, in tandem with an expanding SaaS and subscription pipeline, reinforces long-term appeal.
While the path to full profitability is ongoing, the improvement in fundamentals, technological partnership with Volkswagen, and proven reception of recent models justify renewed interest from discerning investors. The share price appears to be forming a solid base, potentially heralding a new bullish cycle—a compelling proposition for growth-oriented portfolios looking toward the future of transportation.
For those seeking a differentiated, well-capitalized growth story in the electric vehicle sector, Rivian seems to offer a distinct window of opportunity as 2025 unfolds. The confluence of improving fundamentals, technical dynamics, and imminent catalysts may well position Rivian as a stock to seriously consider for forward-thinking investors eager to participate in the next phase of EV adoption.
How to buy Rivian stock in Singapore?
Buying Rivian stock online is both straightforward and secure for investors in Singapore, thanks to the availability of regulated brokers. You typically have two main options: you can buy Rivian shares directly ("spot buying") to become a shareholder, or you can trade Contracts for Difference (CFDs) to speculate on Rivian’s price movements with leverage. Both methods can be accessed via user-friendly platforms, offering strong investor protections and robust support. To help you make the best choice for your needs and objectives, you’ll find a detailed broker comparison further down this page.
Cash buying
A cash (or spot) purchase means you buy Rivian shares outright, becoming a partial owner of the company. This is the most direct way to invest. In Singapore, most online brokers charge a flat commission per trade, typically ranging from SGD $5 to $15 per order, or a percentage fee. For example, let’s say the Rivian share price is USD $13.68 (about SGD $18.50). With a SGD $1,000 investment—including a typical SGD $7 commission—you could buy around 53 shares of Rivian (allowing for currency conversion and fees).
Example
Gain scenario:
If Rivian’s share price climbs by 10%, your shares will then be worth about SGD $1,100.
Result: That’s a gross profit of +SGD $100, or +10% on your investment (before any currency effects and taxes).
Trading via CFD
CFD trading lets you speculate on Rivian’s share price without owning the underlying stock. With CFDs, you can use leverage (often 5:1 or more), which magnifies both gains and losses. Instead of a commission, you’ll usually pay a spread (the gap between buy/sell prices) and overnight financing fees if you keep a position open for more than a day. Suppose you open a CFD on Rivian with SGD $1,000 margin and 5x leverage: this gives you market exposure equivalent to SGD $5,000.
Example
Gain scenario:
If Rivian’s stock price rises by 8%, your position gains 8% × 5 = 40%.
Result: That’s a gross profit of +SGD $400 on your initial SGD $1,000 (excluding fees).
Final advice
Before you start investing, it’s wise to compare the fees, platform features, regulations, and customer support offered by different brokers (see our comprehensive comparison lower on the page). Your choice between spot buying and CFD trading should depend on your risk appetite, investment horizon, and financial goals. Remember, investing in stocks and CFDs carries risk, but the right approach—suited to your profile—can help you take advantage of growth opportunities in companies like Rivian.
Check out the best brokers in Singapore!Compare brokersOur 7 tips for buying Rivian stock
Step | Specific tip for Rivian |
---|---|
Analyze the market | Examine Rivian’s role in the global electric vehicle sector, especially considering recent positive gross profits and strategic moves like the Volkswagen partnership. |
Choose the right trading platform | Select a MAS-regulated broker in Singapore that offers access to US markets like Nasdaq, ensuring low transaction fees and auditable compliance for investments in RIVN. |
Define your investment budget | Determine a fixed sum you’re comfortable with, given Rivian’s ongoing profitability challenges and high volatility; avoid overexposure and consider SGD to USD risks. |
Choose a strategy (short or long term) | For most retail investors, a long-term approach aligns well with Rivian’s R2 platform and vehicle roadmap; however, active traders can watch for technical momentum. |
Monitor news and financial results | Keep updated on Rivian’s quarterly filings, trade tariff news, and partnership developments, as these factors can impact stock direction significantly. |
Use risk management tools | Implement stop-loss orders or trailing stops via your trading platform to navigate sharp swings that are common with Rivian shares. |
Sell at the right time | Reassess your position after key events, such as R2 launch progress or financial milestones, and take profits near technical resistance levels previously identified. |
The latest news about Rivian
Rivian secures $1 billion investment from Volkswagen, offering fresh capital and strategic technology partnership. The joint venture between Rivian and Volkswagen is a significant development, with the initial $1 billion tranche expected to be funded by June 30, 2025. This partnership not only strengthens Rivian’s financial position—providing needed liquidity for upcoming expansion and R2 platform development—but also brings shared technological expertise, potentially resulting in reduced software development costs and future product synergies. For Singapore-based analysts, the global collaboration with an automotive giant enhances Rivian’s credibility and may pave the way for broader international market strategies, which could eventually include Southeast Asian EV markets.
Q1 2025 results beat revenue and loss expectations, driven by increased deliveries and positive gross profit. Rivian reported revenue of $1.24 billion versus $1.01 billion expected, and a per-share loss of $0.41, which is substantially better than the $0.76 projected by analysts. Notably, this marks the company’s second consecutive quarter delivering positive gross profit, which is a positive signal for operational improvement and long-term sustainability. The solid execution on both production and delivery fronts, coupled with a sizable cash reserve of $7.18 billion, suggests that the company remains well-capitalized to weather industry volatility and fund continued innovation—factors increasingly important to international investors, including those allocating from Singapore.
Rivian’s technical analysis signals short-term bullish momentum, supported by price action above key moving averages. The stock currently trades above its 20-, 50-, 100-, and 200-day simple moving averages, a configuration considered bullish by many technical strategists. Additionally, the relative strength index (RSI) sits at a neutral level of 52.18, and the Moving Average Convergence Divergence (MACD) remains positive. The overall technical consensus is “Buy,” with 12 bullish and only 5 bearish indicators. This technical outlook could drive increased interest from Singapore-based funds and traders seeking tactical opportunities in the U.S. EV space.
Rivian’s commercial vehicle segment expands with new fleet customers, signaling progress in revenue diversification. Recent news includes a new fleet partnership with HelloFresh, which has incorporated 70 Rivian vans into its operations. This marks Rivian’s first major customer since broadening availability for its Electric Delivery Van beyond the exclusive Amazon agreement. This step is important as commercial electrification is a major trend in Southeast Asia, and success stories like this one could enhance Rivian’s appeal to regional institutional investors looking for diversified growth beyond passenger EVs.
Delivery guidance revised downward due to trade and tariff impacts, highlighting ongoing geopolitical and regulatory risk. While Rivian maintains a strong operating outlook, the company has lowered its vehicle delivery guidance for 2025 to a range of 40,000 to 46,000 units. This adjustment reflects evolving trade and tariff dynamics, issues that are especially relevant to Singapore’s globally-focused investment community. The move underscores the importance of sustained regulatory monitoring for market participants assessing U.S.-listed automotive equities with global ambitions.
FAQ
What is the latest dividend for Rivian stock?
Rivian stock currently does not pay a dividend. The company remains focused on reinvesting cash into growth, vehicle production, and key partnerships, such as its new joint venture with Volkswagen. As Rivian is prioritizing expansion and profitability, investors should not expect dividends in the near term. Instead, potential returns depend on share price performance as the company scales.
What is the forecast for Rivian stock in 2025, 2026, and 2027?
Based on the current price of $13.68, the projected prices are: end of 2025: $17.78, end of 2026: $20.52, and end of 2027: $27.36. Rivian’s growth is supported by strong cash reserves, a positive gross profit trend, and the upcoming launch of its more affordable R2 platform. The Volkswagen partnership further boosts investor confidence and may accelerate Rivian’s path to profitability.
Should I sell my Rivian shares?
It may be worthwhile to hold onto your Rivian shares, given the company’s improving fundamentals and strategic initiatives. Rivian’s expanding production, healthy cash position, and technology alliances position it for growth as the electric vehicle sector evolves. The recent achievement of positive gross profit and anticipation around the 2026 R2 platform launch could provide long-term upside for patient investors.
How are dividends and capital gains from Rivian stock taxed in Singapore?
Singapore does not tax capital gains from the sale of shares, nor does it impose tax on foreign dividends received by individual investors, provided the dividends are not from shares held in the course of trade. As Rivian does not pay dividends, tax implications would mainly relate to any gains upon selling your shares, which are generally not taxable. Always review updated guidance if your circumstances are specific or complex.
What is the latest dividend for Rivian stock?
Rivian stock currently does not pay a dividend. The company remains focused on reinvesting cash into growth, vehicle production, and key partnerships, such as its new joint venture with Volkswagen. As Rivian is prioritizing expansion and profitability, investors should not expect dividends in the near term. Instead, potential returns depend on share price performance as the company scales.
What is the forecast for Rivian stock in 2025, 2026, and 2027?
Based on the current price of $13.68, the projected prices are: end of 2025: $17.78, end of 2026: $20.52, and end of 2027: $27.36. Rivian’s growth is supported by strong cash reserves, a positive gross profit trend, and the upcoming launch of its more affordable R2 platform. The Volkswagen partnership further boosts investor confidence and may accelerate Rivian’s path to profitability.
Should I sell my Rivian shares?
It may be worthwhile to hold onto your Rivian shares, given the company’s improving fundamentals and strategic initiatives. Rivian’s expanding production, healthy cash position, and technology alliances position it for growth as the electric vehicle sector evolves. The recent achievement of positive gross profit and anticipation around the 2026 R2 platform launch could provide long-term upside for patient investors.
How are dividends and capital gains from Rivian stock taxed in Singapore?
Singapore does not tax capital gains from the sale of shares, nor does it impose tax on foreign dividends received by individual investors, provided the dividends are not from shares held in the course of trade. As Rivian does not pay dividends, tax implications would mainly relate to any gains upon selling your shares, which are generally not taxable. Always review updated guidance if your circumstances are specific or complex.