Jenni_Pooh2
Member
What is the name of your state? California
I was injured at work and am now at the "tail end" of the comp claim. It is a large settlement, and because it is also an accumulative trauma accident, there are 4 comp companies involved. I am to receive the first settlement this month, $42K, but am unsure when I will receive the other three, nor do I know what those amounts will be. Will the settlement be taxable? If so, is it taxable to the year I actually received the money? The original accident/claim was in 1998.
Also, I was in a car accident last year (9/03), and will be receiving a settlement for that next month. My auto insurance paid all the medical bills, however, they do not require reimbursement for the medical expense. But the insurance company for the girl that hit me (AAA) is still required to pay me for all medical expenses, so I will be able to keep that money. Would the personal injury and medical expense money be taxable?
I was injured at work and am now at the "tail end" of the comp claim. It is a large settlement, and because it is also an accumulative trauma accident, there are 4 comp companies involved. I am to receive the first settlement this month, $42K, but am unsure when I will receive the other three, nor do I know what those amounts will be. Will the settlement be taxable? If so, is it taxable to the year I actually received the money? The original accident/claim was in 1998.
Also, I was in a car accident last year (9/03), and will be receiving a settlement for that next month. My auto insurance paid all the medical bills, however, they do not require reimbursement for the medical expense. But the insurance company for the girl that hit me (AAA) is still required to pay me for all medical expenses, so I will be able to keep that money. Would the personal injury and medical expense money be taxable?