Legal Question in Tax Law in California

Pay taxes on insurance settlements

Am I liable for taxes on money paid to me in an insurance settlement? State and federal?


Asked on 10/02/06, 11:29 pm

1 Answer from Attorneys
Donald Field Donald L. Field, Jr., Attorney at Law

Re: Pay taxes on insurance settlements

this depends on a number of factors - the type of insurance, the reason for the payment, the owner of the insurance and the beneficiary of the insurance. a review of the insurance documents and settlement agreement is necessary to answer the question.

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Answered on 10/04/06, 4:19 pm


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