Legal Question in Personal Injury in South Carolina

taxes on settlements

Is the injured person in an auto accident required to pay taxes on a settlement they receive from an insurance settlement? If so, do they have to pay taxes on the entire amount or just the portion they actually received after medical and attorney fees were paid?


Asked on 7/13/07, 12:03 pm

1 Answer from Attorneys
Ben Stevens The Stevens Firm, P.A. Family Law Center

Re: taxes on settlements

Generally, the answer is "no." If you want additional information, you can visit my personal injury law blog (www.SCPILaw.com) or our firm's website (www.StevensFirm.com). If I can assist you further, please do not hesitate to contact my office.

Thanks and good luck, Ben Stevens

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Answered on 7/13/07, 12:35 pm


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