Is Injury Compensation Money Taxable By The Irs
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This Page Contains information about Is Injury Compensation Money Taxable By The Irs By gene in category Tax Questions with 0 Replies. [4179], Last Updated: Sun Mar 01, 2020
gene
Wed Dec 31, 1969
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i had a car accident last year and finally i won the case against the person's insurance company and i was compensated about 100,000 dollars. my questions is, do i have to report this money to the IRS?
for example, lets say you got rewarded 100K as you said right,
you invest that money and you gained profit from your investment, then you will have to report the profit you made form your investment, so in your example, if you gained $500 from your investment, then yes, you the 500 dollars is taxable, but not the 100k from the insurance company.
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