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Deductions & credits
Unfortunately, no. You can't deduct medical expenses if you have been paid by a third party.
You can only deduct the medical expenses you paid beyond the coverage of the lawsuit.
However, the portion of your settlement for pain and suffering is not taxable income to you either.
For more information on medical expenses and the taxation of lawsuits, follow these links:
I am sorry you were hurt so badly.
‎June 3, 2019
12:38 PM