Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Where do I enter compensatory damages on 1040? (https://www.askmehelpdesk.com/showthread.php?t=569603)

  • Apr 11, 2011, 12:38 PM
    schlivo
    Where do I enter compensatory damages on 1040?
    Where do I enter compensatory damages on 1040?
  • Apr 11, 2011, 04:46 PM
    ma0641
    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.
  • May 19, 2011, 07:02 PM
    AtlantaTaxExpert
    If you determine the monetary damages ARE taxable, enter it on Line #21 of Form 1040.

    • All times are GMT -7. The time now is 02:58 AM.