Hi, I paid $10,000 in 2019 to settle a personal in...
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king_preetham
New Member

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?

 
2 Replies
xmasbaby0
Level 15

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?

No.  That is a personal expense.  

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Opus 17
Level 15

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?

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. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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