| Is money awarded to me in a mesothelioma lawsuit taxable?

Is money awarded to me in a mesothelioma lawsuit taxable?

lilygirl2727 asked:

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!

Filed Under United States | 1 Comment

Tagged With Mesothelioma Lawsuit, Money

Comments

One Response to “Is money awarded to me in a mesothelioma lawsuit taxable?”

bostonianinmo on February 7th, 2010 6:59 am

ph miracle

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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