What is taxable in Personal injury settlement under the US tax code?
I’m suing my landlord/his insurance company, because a few years ago I fell down a common stairwell after the landlord had removed the carpeting, but not the nails.
I have a good personal injury attorney, but she’s not sure about tax questions.
Published by: Admin on October 11th, 2009 | Filed under Attorneys Personal Injury
One Response to “What is taxable in Personal injury settlement under the US tax code?”
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October 1st, 2009 at 12:46 am
the money awarded is non taxable. now bear in mind that should you have any capital gain on it that certainly is.
you do not have to declare the award in your ta return.
i hope this answers your question.