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View Full Version : Tax rate insurance settlement


e321dsb
Jan 20, 2013, 10:37 AM
My daughter was killed by a drunk driver. Are there any taxes due on the settlement amount?

JudyKayTee
Jan 20, 2013, 11:42 AM
It should be very clear in your settlement agreement - in general, no, not if the settlement is for pain/suffering/loss of life.

AK lawyer
Jan 20, 2013, 04:46 PM
Did you have an attorney help you negotiate this settlement? If so, why didn't you ask him or her? But no, as JudyKayTee has told you, in general it's not taxable.