is money won on a medical malpractice law suit taxable by the us govermant? or state gov?

23.March, 2010

is money won on a Medical Malpractice law suit taxable by the us govermant? or state gov?

Settlements for physical injury or illness are not taxable. However if any portion was earmarked for accrued interest or punitive damages, those portions are fully taxable as ordinary income.

Posted by: admin in: Medical Malpractice 1 Comment »

1 Comment für “is money won on a medical malpractice law suit taxable by the us govermant? or state gov?”

  1. Dances with Aardvarks sagt:
    23.March, 2010 um 10:37 am

    Settlements for physical injury or illness are not taxable. However if any portion was earmarked for accrued interest or punitive damages, those portions are fully taxable as ordinary income.
    References :

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