singalongjunk
Junior Member
What is the name of your state?What is the name of your state?What is the name of your state? Illinois
After a 7 year court battle, my attorneys and I settled a PI lawsuit out of court for $11k. I didn't have insurance. I paid the $11k. No lawyer fees were included.
Is this $11k, in anyway, tax deductable? Can I deduct the lawyer fees?
All the other posts I've read speak about how settlements from PI lawsuits are not taxable income. Nobody talks about the loosers.
After a 7 year court battle, my attorneys and I settled a PI lawsuit out of court for $11k. I didn't have insurance. I paid the $11k. No lawyer fees were included.
Is this $11k, in anyway, tax deductable? Can I deduct the lawyer fees?
All the other posts I've read speak about how settlements from PI lawsuits are not taxable income. Nobody talks about the loosers.