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AndreasHair4U
Returning Member

Medical Settlement Taxes

Hi. I received a medical settlement. How much do I put back for taxes? 

1 Reply
STaxLady
Employee Tax Expert

Medical Settlement Taxes

Hi AndreasHair4U,

 

There are a number of factors to consider regarding whether or not a medical settlement is taxable. The following link covers various situations and whether or not the settlement would be taxable. Once you have reviewed this information, if you determine that the settlement would be considered taxable, reach out here again. There are other factors that we would need to consider to determine the answer to how much you may need to put back for taxes.

 

https://www.irs.gov/pub/irs-pdf/p4345.pdf

 

I hope this answers your question!

 

Best regards,

STaxLady

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