Results 1 to 4 of 4
  1. 04-08-2007, 05:52 PM #1
    golden
    golden is offline Junior Member
    Join Date
    Jan 2006
    Location
    temecula
    Posts
    24

    Default Taxes On A Personal Injury Settlement

    Hi I live in California. Do you have to pay taxes on your lump settlement?
    Thank you
  2. 04-09-2007, 09:03 AM #2
    Betty3
    Betty3 is offline Senior Member
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Taxes On A Personal Injury Settlement

    You should not have to pay taxes on the personal injury settlement but if any of the money is for punitive damages (extra money paid to punish the person/company as the case may be for their harmful behavior) would be taxable. Also, when you put any of the money into one of your accts. (ie bank acct.), the interest earned on the money will be taxable as income.
  3. 04-09-2007, 10:26 AM #3
    verde
    verde is offline Senior Member
    Join Date
    Feb 2006
    Location
    riverside
    Posts
    150

    Default Re: Taxes On A Personal Injury Settlement

    Thank you....love this forum!!!
  4. 04-09-2007, 01:57 PM #4
    Betty3
    Betty3 is offline Senior Member
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Taxes On A Personal Injury Settlement

    You're welcome.
    1. Sponsored Links
       
« Previous Thread | Next Thread »

Similar Threads

  1. Traffic Accidents: Estimate Value of Personal Injury Settlement
    By no1texan in forum Accidents and Injuries
    Replies: 9
    Last Post: 10-17-2011, 08:13 AM
  2. Traffic Accidents: Whether to Accept a Personal Injury Settlement Offer
    By gonzo72 in forum Accidents and Injuries
    Replies: 6
    Last Post: 01-16-2011, 06:16 PM
  3. Support Arrears: Collecting Support Arrears From a Personal Injury Settlement
    By lilheater77 in forum Child Custody, Support and Visitation
    Replies: 1
    Last Post: 06-04-2010, 08:04 PM
  4. Taxes on Personal Injury Settlements
    By elle23 in forum Tax Law
    Replies: 2
    Last Post: 04-10-2010, 07:29 PM
  5. Federal Taxes: Is interest on a personal injury settlement taxable
    By fofomebunny in forum Tax Law
    Replies: 2
    Last Post: 09-09-2006, 05:39 PM
 
 
Sponsored Links

Legal Help, Information and Resources