On February 19, 2020, Jackson was renting a house through Airbnb owned by The Real Housewives star Teddi Mellencamp and her husband, Edwin Arroyave, in Hollywood Hills, California. At around 4:30 a.m., five hooded men, including one wearing a ski mask and carrying a handgun, broke into the house through a second-story balcony. The intruders held a gun to a woman's head and threatened to kill her. Shortly thereafter, the woman heard the men shoot Jackson three times after an altercation.

The LAPD received news of the home invasion from a call from the East Coast. Police arrived at the home six minutes later and found Jackson with multiple gunshot wounds. He was rushed to Cedars-Sinai Medical Center, where doctors performed a thoracotomy on the left side of his chest. A few hours later, he was pronounced dead. He was 20 years old. On February 21, the Los Angeles County Department of Medical Examiner-Coroner revealed that the cause of Jackson's death was a gunshot wound to the chest.

The LAPD at first suspected that Jackson's death was gang-related, as he was tied to the Crips. However, the LAPD later believed his death was the consequence of a home robbery gone wrong. It was believed the intruders stole Jackson's gold watch and other jewelry before running away from the house. In May 2021, a 15-year-old, the youngest of the four intruders, allegedly admitted to killing Jackson over a diamond-studded Rolex during a recorded interview with a cellmate at a juvenile detention center. The 15-year-old told the cellmate that Jackson at first complied with their requests for jewelry but then tried to fight them, and a confrontation broke out in which Jackson was pistol-whipped and shot with a Beretta M92. The intruders made off with his Rolex, which they sold for $2,000.

The day before his murder, Jackson and friend Michael Durodola posted several images on social media, including one in which Mellencamp's home address can be seen in the background. The rapper also posted a story on Instagram and Facebook of gifts he had received. One showed the house's full address on the packaging, giving out its location.

Jackson's body was originally planned to be buried at the Cypress Hills Cemetery but was later changed to Green-Wood Cemetery. Family, friends, and fans of Jackson gathered in his hometown of Canarsie, Brooklyn, to show their respects. His casket was pulled in a horse-drawn carriage and was surrounded by glass windows and white curtains. On September 11, 2021, it was discovered that his grave site was vandalized, with the headstone smashed.

On July 9, 2020, three adult men and two minors were arrested for the murder of the rapper. One of the adult suspects has been charged with murder with a special circumstance that alleged the killing was committed "during the commission of a robbery and a burglary", and another charged with attempted murder. The two juveniles were charged with murder and robbery in juvenile court. As California law requires a minor to be at least 16 at the time of the crime, the 15-year-old could not be tried as an adult; and, under George Gascón's policy to keep all juveniles in juvenile court, the 17-year-old could not be tried as an adult, either.