Legal Question in Personal Injury in Florida

I was in a car accident and received a settlement. I paid back to my insurance company their expenses and after a few months, invested the rest in treasury notes. I report as income the interest I receive twice a year on this note and thus pay the taxes. When the note majures, is there any tax liability on the lump sum of principle I receive?


Asked on 11/11/10, 7:21 am

1 Answer from Attorneys
Michael Tobin Michael M. Tobin, P.A.

No. Your return of principal is not income.

Read more
Answered on 11/16/10, 9:47 am


Related Questions & Answers

More Personal Injury Law and Tort Law questions and answers in Florida