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    jevan's Avatar
    jevan Posts: 10, Reputation: 1
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    #1

    Dec 11, 2006, 05:35 PM
    Settlement
    My husband is getting a settlement from a pharmisuitcal company. He is on S.S.D. He is not good with handling money,so he wants to sign the check over to me. I will than deposit to my account. MY question is this, This settlement was granted to him because he almost died from medication. This money if I deposit into my account,will this be taxed? Should I have him deposit it into his own account or our joint account?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Dec 11, 2006, 05:42 PM
    Hello jevan:

    I don't believe insurance settlements are taxable. But if they are, it doesn't matter where it's deposited. Whoever owes it, owes it no matter where it's deposited.

    excon
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