Warning: Illegal string offset 'name' in /home/damageat/public_html/wp-content/plugins/genesis-simple-sidebars/plugin.php on line 53

Warning: Illegal string offset 'description' in /home/damageat/public_html/wp-content/plugins/genesis-simple-sidebars/plugin.php on line 55
Do I pay taxes on a personal injury settlement?

Do I pay taxes on a personal injury settlement?

personal injury
tami_leigh asked:


I received a settlement check from an insurance company due to a motorcycle accident. Do I need to report this for taxes?

Free Ringtones

Related posts:

  1. Do you have to report Tax-free money received in Personal Injury Settlement?
  2. are there taxes on personal injury settlements?
  3. When you get a personal injury settlement, does part of it go to reimbursing your health insurance company?
  4. In California does a person have to pay taxes on a (physical) personal injury settlement?
  5. How do you know a personal injury lawyer has your best interest in mind?

Comments

  1. v b says:

    See IRS publication 525.
    Compensation for a personal injury is not taxable.

  2. Softballho says:

    i got a $47,000 settlement and didn’t have to pay a dime in taxes…

  3. bostonianinmo says:

    Settlements for personal injury are not taxable. However if any portion was earmarked as lost wages, accrued interest, or punitive damages then those portions are fully taxable as ordinary income.

Speak Your Mind

*