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Started By
Message
Lawsuit money when filing taxes.
Posted on 2/25/15 at 8:30 am
Posted on 2/25/15 at 8:30 am
My mom does her own taxes every year with Turbotax and can't figure out where to include monies won from a civil lawsuit. Any help would be appreciated.
1
Posted on 2/25/15 at 9:30 am to MightyYat
Personal injury?
Posted on 2/25/15 at 9:40 am to cwill
Not personal injury. Her Katrina contractor had to pay her a little over $26K for some shitty work and it just got settled last summer.
Posted on 2/25/15 at 10:08 am to MightyYat
Have your mother look into the tax benefit rule and see if it applies. She shouldn't have to pay taxes on reimbursement for a loss she suffered for which she got no tax benefit.
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