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BIGTYMER · 02-23-2010, 09:43 PM

The taxability of court settlements depends on what the settlement is for. If it is compensation for a loss, in general it is not taxable. If it is a 'penalty' it will be taxable.

02-23-2010, 09:43 PM
BIGTYMER Junior Achiever Industry Role: Join Date: Nov 2004 Location: Walled Garden Posts: 17,066	The taxability of court settlements depends on what the settlement is for. If it is compensation for a loss, in general it is not taxable. If it is a 'penalty' it will be taxable.