I was in a bicycle crash and received a settlement, and am not sure what to do for my tax return, the settlement was for 1,800.
Posts Tagged ‘Received’
I received a distribution from an annuity from my Mother’s estate.?
30
May
I am having trouble getting the form that the insurance company issues to whomever the distributon goes to. The executor of the estate is dragging his feet. Do I ask the annuity issuer for a 1099-R, or is that the form I fill out for the tax return?The $65,000 I received has been reported to the IRS, but no one will give me the form I need to complete my 2006 taxes. Is there a deadline by which the annuity issuer who distributed funds has to issue me the proof of how much I received? How can I go around the executor of the estate to get this form? I appreciate any help as soon as humanly possible.
I don’t have a bank account received an out of state ins settlement checkhow do i cash?How long on hold atbank?
23
May
There is no location for insurance company’s bank in my state. Is there any place that will cash it that day? Check is for $8,100
Filing IRS if money was received as beneficiary of annuity?
15
May
My mom had a non qualified tax deferred annuity in which I was one of the beneficiaries. Upon her passing this year, I received the check. I live overseas and my income is very small so I don’t report to IRS. However, with this money I received, I’m not sure if it is considered income or what and if I will have to file next year. I need to know now because other issues elsewhere depend on whether or not this is income. I tried calling the IRS but lines are always busy. Thank you for your help.
Are taxes payable on cash received for settlement disputes? Our builder is compensating for plumbing leak.?
14
May
Our brand new home had a plumbing leak and damaged carpets, stained furniture. The builder is compensating us for damages but the letter refers to it as “Settlement amount” rather than a reimbursement for damages. Will this become taxable?
Are you able to claim medical expenses on taxes if they were paid with money received from an auto settlement?
08
May
The accident was the other person’s fault, and their insurance company provided me with a settlement for my medical bills, current and future. Can I still deduct on my taxes?
How can I get my Lawyer to repay a debt after I received my cash settlement in which he was to settle ?
29
Apr
My Lawyer never repayed a lien
The future value of an annuity assumes that the payments are received at the end of the year and that the last?
19
Mar
The future value of an annuity assumes that the payments are received at the end of the year and that the last payment does not compound.
a)False
b) True
I’m 20 and just received a settlement of $450 000 what do I do with it?
18
Mar
I live in Canada if that matters. I have an option of lump sum or annuity. I was thinking pay student loans and buy a house and car, but what about investments? I am thinking it is smart to buy a house and never have to make mortgage payments… help…..
I have about $15 000 of my own money already saved, and about $17 000 student loans (dont have to start repaying for another year) Thinking of getting a volkswagen TDI probably used. I dont want to live the life of a rockstar, I want to make sure I secure my future.
What is the tax liability for a financial settlement received from an auto insurance company?
04
Mar
Thank you for your prompt responses. I should have added more details so you’ll know what I mean. I was rear-ended on the freeway in Chicago last Spring ‘08. The driver of the other car immediately assumed responsiblity and his (out of state) insurance company issued a check for $3,500 to be released of futher involvement (it was very minor; only bumper damage). On the stub attached to the check the description only reads “Bodily Injury Payment-Auto”…….I was up late completing my taxes and remembered this incident and didn;t want it to haunt me later. I searched the web fir answers (even the IRS) and the answer are the same as yours (basically)………..thanks.
Do you have to report Tax-free money received in Personal Injury Settlement.?
03
Mar
I received some tax free money in a Personal Injury Settlement. Does it still have to be reported when filing your Taxes? The State is Idaho.
Our 17 year son was killed in an airplane accident. Received small settlement from insurance, is that taxable?
02
Mar
The Insurance policy is from the flight school of aircraft involved in accident. Small settlement of $100,000., after attorney fees from civil suit (which was dropped), has brought that down to half which was received. We are wondering if we need to paid state or federal taxes on settlement, and if so, on what figure. Any information would greatly be appreciated, Thank you.
What are the tax consequences of a life insurance policy that I received from a family memeber??
26
Feb
I received a Form 702 from a small life insurance settlement & am not sure if I will owe any taxes on this. My first & only clue so far is that when running through TurboTax there doesn’t appear to be any section to reference or include this inheritence. Please help & let me know how you found it out or where I can find more info. Thank you!!