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starwberry
Lv 5
starwberry asked in Politics & GovernmentLaw & Ethics · 7 years ago

If you win a lawsuit, do you have to pay taxes on that money?

4 Answers

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  • ?
    Lv 7
    7 years ago

    if the money is for a personal injury, no there is no tax on it. now if you take that money and put it in the bank

    or any other financial vehicle that makes interest, that's taxable.

  • yippyyippyyayawho
    Lv 6
    7 years ago

    yep

  • Scott
    Lv 6
    7 years ago

    Generally yes, but it depends on a lot of factors.

    http://www.forbes.com/sites/robertwood/2012/10/01/...

  • Anonymous
    7 years ago

    Did you try to do a search on Google?

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