Hi, I paid $10,000 in 2019 to settle a personal injury lawsuit that was filed from an accident i was involved in a couple f years ago. Can i claim this as a deduction?
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If the injury was caused in the course of your business and you file a business tax return, it is a deductible business expense. If it is a personal expense (you don't have a business or the injury was not caused in the course of business activities) then it is not deductible.
