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Old 02-10-2002, 05:11 PM
Bill wilkins
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Insurance settlement

mva in ohio i received a a settlement from other drivers (his fault) insurance for injuries in a mva ( 2 back surgeries). do i have to pay income tax on this settlement? if so do i have to pay it on outstanding medical bills. Thanks
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Old 02-13-2002, 03:03 PM
jdrollins
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I am not an attorney or a tax expert, but my research has shown that settlements are not taxable, except for punitative damages. Those are federally taxed and may be taxed by the state as well. I do not know Ohio law to answer your situation.
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