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Is money awarded to me in a mesothelioma lawsuit taxable?
This is a discussion on Is money awarded to me in a mesothelioma lawsuit taxable? within the Health forums, part of the Main Category category; If I am awarded money, I am not sure if I have to give the government half of it or ...
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06-08-2008, 08:24 PM
| #1 |
| Junior Member  Join Date: Jun 2008
Posts: 3
| 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! |
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06-08-2008, 08:41 PM
| #2 |
| Junior Member Join Date: Jun 2008
Posts: 1
|  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. |
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