If I am awarded money, I am not sure if I have to give the government half of it or not.
Any help would be greatly appreciated!
2007-02-23 09:18:40 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Awards and settlements due to physical injury and physical illness are tax free.
Any part of the award that is for interest, lost wages, or punitive damages is fully taxable IF those amounts are stated separately.
2007-02-23 09:22:12 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Mesothelioma Settlements Taxable
2017-01-18 07:40:38 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Wanted to ask this question too this morning
2016-07-28 08:58:57 · answer #3 · answered by Martina 3 · 0⤊ 0⤋
Some pretty good arguments here.
2016-08-23 19:09:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They are all taxi free!
2014-10-30 19:27:14 · answer #5 · answered by Irene Bi. 3 · 0⤊ 0⤋