Ask Terry Questions Medical malpractice lawsuit.

Medical malpractice lawsuit.

By Terry Savage on May 16, 2024 | Wild Card

Are any of the monies that are awarded from a Medical Malpractice lawsuit taxable ?

Terry Says

A portion may be free of taxes.  According to the IRS, payments for medical malpractice are classified as “ personal physical injuries ” settlements or compensatory damages. The portion of your award that compensates you or reimburses you for medical expenses and losses you suffered from the injury or sickness is non-taxable.

Read this for more details:  Do You Have to Pay Taxes on a Malpractice Settlement? | JJS Justice



a personal
finance question