Claiming Personal Injury on W-4
I was recently in an automobile accident. I am aware that I am only responsible for claiming lost wages reimbursement on my federal forms. Am I supposed to claim that amount twice (multiply it by 2) because I received money from my insurance company through my PIP, and it was factored into my settlement with the other person's insurance company?
Asked on 1/31/05, 3:36 pm
1 Answer from Attorneys
G. Joseph Holthaus III
Law Offices of G. Joseph Holthaus
Re: Claiming Personal Injury on W-4
The settlement is not taxable nor is PIP recovery. You should have the matter reviewed by an attorney or tax accountant. If you need assistance with either matter, please contact me at (410) 2567.
Answered on 1/31/05, 5:02 pm