Legal Question in Tax Law in California

are penalities and interests awarded to a plaintiff in a settlement subject to income tax?


Asked on 8/15/11, 9:17 pm

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

Recoveries related to lost of income are taxable but not if they are for bodily or mental injuries.

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Answered on 8/16/11, 7:03 pm


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