Is Workman’s Compensation Income taxable?

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Is Workman’s Compensation Income taxable?

My friend has been on workman’s compensation for the entire year. Does he have to pay taxes on the workman’s comp income? Where does that income go on your 1040?

2007-08-29 08:08:33 · 2 answers · asked by Solutions 2 in Business & Finance ➔ Taxes ➔ United States

2 answers

Workers comp received through a state plan isn't taxable, and isn't reported on your tax return.

2007-08-29 08:58:32 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

No, Workers Compensation is not taxable.

2007-08-29 08:15:11 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋