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  1. #1
    azcamaro is offline Junior Member
    Join Date
    Oct 2007
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    10

    do I have to pay taxes on accident claim?

    What is the name of your state? AZ

    Hi, I am about to receive a settlement from an accident in which a uninsured motorist hit me and I had injuries. My question is will I have to pay any income tax on my settlement? If I do, am I liable for the total including Dr. & Lawyers share or just my share? (both the dr & lawyer are getting more than I am
    Thank you for your time.
  2. #2
    ecmst12 is offline Senior Member
    Join Date
    Feb 2006
    Location
    Philadelphia, PA
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    35,498
    Generally not, since it is considered a replacement of money you lost and not actual income. But ask your lawyer to be sure.

    A search of this site would have found you this information, also.
  3. #3
    crsngna is offline Junior Member
    Join Date
    Sep 2008
    Posts
    1

    Florida

    I have the same question but I live in Florida. My 14 year old daughter and I received separate Insurance checks as compensation from a car accident that we were in. The insurance company of the person who hit me is the one who sent us the checks. Do either of us have to pay taxes on this money or is it all ours?

    Thank you for your help!!!
  4. #4
    racer72 is offline Senior Member
    Join Date
    Jan 2001
    Posts
    14,120
    The answer is the same as above.
    If you feel my answer is rude, mean, snarky or in anyway not to your liking, I did my job. You don't need to tell me.

    No private messages, I do not reply to them.
  5. #5
    mikeb7418 is offline Junior Member
    Join Date
    Feb 2007
    Location
    Pennsylvania
    Posts
    17
    I do believe you would have to pay taxes on any portion of your claim that represents lost income or wages (if applicable).

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