Ask Experts Questions for FREE Help !
Ask
    goldamyfish's Avatar
    goldamyfish Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 14, 2003, 03:11 PM
    Lawsuits and taxes
    I've gotten different opinions. Do you have to report a settlement from a medical malpractice suit on taxes? Also, I was in an accident, and received a settlement there. Must I report that? My lawyer says no. A CPA says I must report punitive money.
    myfauna's Avatar
    myfauna Posts: 1, Reputation: 1
    New Member
    		  
    #2

    Jun 22, 2004, 12:39 PM
    lawsuits and taxes
    Same question, ty :)
    MagikPoo's Avatar
    MagikPoo Posts: 59, Reputation: 2
    Junior Member
    		  
    #3

    Jul 6, 2004, 08:33 PM
    lawsuits and taxes
    this is a sillly responce !!

    Please disregard

    As a person that knows nothing about the law,
    I say you'v been very ill lately,
    Get well soon

    Love MagikPoo
    8) I hope that brightened your day. :D
    steel knee's Avatar
    steel knee Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Jul 29, 2007, 09:47 PM
    Confused:

    Do you have to report a settlement from a medical malpractice suit on taxes?


    Thanks,

    Steel Knee
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
    		  
    #5

    Jul 31, 2007, 08:15 AM
    I believe your lawyer is correct. Generally, settlements from a lawsuit are not reportable.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Ontario Statute of Limitations for Lawsuits [ 4 Answers ]

The Proceedings Authorization Committee of the Law Society of Upper Canada (LSUC) will be addressing a list of complaints against my mother’s lawyer within the next month that I filed back in November 2004. After a very lengthy & thorough investigation, the assigned Law Society investigator has...

NYC Taxes [ 1 Answers ]

Hello, My employer incorrectly entered me as a NYC resident in the payroll system until Oct. 2005, whereas I've been living in NJ since Aug. 2004. I was told I could get a refund for the NYC tax withheld on my paychecks prior to Oct. 2005. Trouble is I don't know what form to file for that? Is...

OPT to H1-taxes [ 14 Answers ]

Thanks for all the useful information that you all have posted here. I have a question. My statius changed from OPT to H1B in August 2005 and I am thinking of filing as a non-resident as per Atlanta Tax Expert's advise. My employer has also been deducting social security and medicare taxes since...

Taxes [ 3 Answers ]

I Am Paying The Mortgage On My Deceased Parents House[daughter And Grandchildren Living There I Have Not Probated Will Still In Parents Name Can I Claim Mortgage On My Income Tax?

Filing for 2004 taxes and 2005 taxes [ 1 Answers ]

Hi I just received my W2 from my employer and there were 2 W2's. One W2 was for the wages of Dec 2004 (since the employer pays 1 month delayed salary) and the other one was for Jan - Nov 2005. I want to know if I can refile my 2004 taxes since I just got my Dec 2004's W2. If I add that...

View more questions Search