Legal Question in Civil Litigation in New York
Is the money received for a medical malpractice action as a result of an out-of-court settlement taxable? Defendant does not admit negligence or any culpability so it is difficult to infer what the money is to compensate for?
Asked on 6/23/11, 9:54 am
2 Answers from Attorneys
Kevin Connolly
Kevin J. Connolly
It's a tort recovery and you exclude it from your gross income.
Answered on 6/23/11, 5:31 pm
Michael Markowitz
Michael A. Markowitz, PC
Q. Is the money received for a medical malpractice action as a result of an out-of-court settlement taxable?
A. No.
Mike
Answered on 6/24/11, 8:13 am
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