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?

posted

Connect with an expert

2 Replies

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.**

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.

Still have questions?