compensatory damages
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compensatory damages
defendant will send a check to my attorneyas compensatory damges due to wrongfuldeath of my spouse. Attorney will deduct his expenses and his fees. he will send me the rest of the money. Is the money that I will receive taxable by IRS?
Asked on April 25, 2009 under Accident Law, California
Answers:
N. K., Member, Iowa and Illinois Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
No. Here is the link to the IRS publication regarding taxable and non-taxable income relating to court awards and damages: http://www.irs.gov/pub/irs-pdf/p525.pdf.
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