Is a personal injury settlement taxable income?

Answer According to, the money that you receive to pay your medical bills is not taxable because that money is earmarked to cover a loss. Money received in a personal injury settlement that is... Read More »

Top Q&A For: Is a personal injury settlement taxable income

Is a Personal Injury settlement taxable in ca?

file with your insurance company and they will deal with your neighbors insurance policy.

Is a personal injury settlement taxable?

Personal injury awards are not taxable if they are compensation for a physical injury or sickness as the result of an accident or other wrongful act. However, nonphysical injuries like defamation a... Read More »

Are your personal injury lawsuit winnings considered taxable income?

On One Hand: Winnings for Physical Injury are Not TaxableWinnings from a personal injury lawsuit aren't taxable if they cover treatment for a physical injury or sickness. In addition, awards for em... Read More »

Is the income obtained on a court stipulation of settlement taxable?

You must pay income tax on court settlements if you sued for something that normally would be taxed, such as lost wages and profits. You also must pay tax on punitive damages, and in some cases, em... Read More »