2007-02-07 07:03:08 · 6 answers · asked by Clay 1 in Business & Finance ➔ Taxes ➔ United States
That depends.
If it's an employer-sponsored plan fully paid for by your employer the payments are fully taxable.
If you pay for part of the employer-sponsored plan, the portion of the benefits relative to your employer's payment for the plan is taxable.
If you pay for the plan entirely yourself, the payments are fully tax-exempt. However if you pay for the plan with pre-tax deductions from your pay it is fully taxable.
2007-02-07 07:09:34 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Usually yes, but it depends where the money is coming from.
2007-02-07 13:11:30 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
No, this is just like workman's comp. It is for an injury. In my opinion, no you do not have to pay taxes. Good Luck and Good Health
2007-02-07 07:12:04 · answer #3 · answered by Anonymous · 0⤊ 3⤋
18 pounds
2007-02-07 07:05:16 · answer #4 · answered by Jennifer M 2 · 0⤊ 2⤋
Yes, it's income
2007-02-07 07:09:30 · answer #5 · answered by Dizney 5 · 0⤊ 2⤋
yes
2007-02-07 07:04:49 · answer #6 · answered by Baby 6 · 0⤊ 2⤋