schlivo
Apr 11, 2011, 12:38 PM
Where do I enter compensatory damages on 1040?
ma0641
Apr 11, 2011, 04:46 PM
What did the damage settlement arise from? Personal injury settlements are not usually taxable if you were injured. However, if you were in a class action suit without injury, the answer may be different.
AtlantaTaxExpert
May 19, 2011, 07:02 PM
If you determine the monetary damages ARE taxable, enter it on Line #21 of Form 1040.