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are there taxes on personal injury settlements?

are there taxes on personal injury settlements?

personal injury
nurseinpink asked:


ireceived a settlement on my brother that was killed in car accident.it was a personal injury settlement. will i have to pay taxes on it.

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Comments

  1. Mathew says:

    Those are frequently complex issues that I would not wish to address without all of the information concerning the settlement. I would suggest that you go see a tax professional. Those type of settlements can be tax free but it is good to know ahead of time before the money is spent and you learn that some portion of the settlement is taxable.

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