I was collecting work comp for 2 months last year and get many different answers when I ask this question.
2007-01-11 14:24:35 · 6 answers · asked by DuffMan409 2 in Business & Finance ➔ Taxes ➔ United States
This is what it says on my TaxCut software
"Workers' Compensation
Compensation for a job-related injury is tax-free. If you turn the payments over to your employer who continues to pay your salary, you are taxed only on the amount by which your salary exceeds the compensation. "
2007-01-11 14:35:49 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You do NOT have to claim worker's compensation as income on your tax return. It is not taxable.
2007-01-11 15:53:38 · answer #2 · answered by Anonymous · 1⤊ 0⤋
on condition that you're making the same quantity of money and your RRSP contributions are the same. also, the Feds raised the income tax fee very last July to compensate for the a million% relief in GST. Yep, you are able to tell the Mulroney Torries are nonetheless operating the coach.....
2016-11-23 13:14:51 · answer #3 · answered by ? 4 · 0⤊ 0⤋
No! Worker's Compensation is not taxable income.
2007-01-11 14:27:35 · answer #4 · answered by ? 6 · 1⤊ 0⤋
yes I think that you do. But just to be safe ask the person that is doing your taxes. It won't hurt to ask and then you will know for sure.
2007-01-11 14:33:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
workers comp NO. unemployment yes
2007-01-11 14:35:39 · answer #6 · answered by linluv2001 2 · 1⤊ 0⤋