Legal Question in Personal Injury in California
Are settlements and/or judgements taxable?
Are settlements and/or judgements taxable in any way? How is a settlement treated relating to a minor? Is there a trustee involved until the minor reaches legal age?
Asked on 4/02/01, 4:08 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Are settlements and/or judgements taxable?
Usually not because it is to replace something that was lost. however, payment for lost wages may be taxable. money for physical injury and pain/sufferring is not taxable.
Answered on 5/07/01, 9:11 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
