turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

If I received a settlement check for an auto accident that occurred in 2011. Where do I enter that information? Should I have received a tax document for it?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

If I received a settlement check for an auto accident that occurred in 2011. Where do I enter that information? Should I have received a tax document for it?

If you receive a settlement for personal physical injuries or physical sickness and did not take an itemized deduction for medical expenses related to the injury or sickness in prior years, the full amount is non-taxable. Do not include the settlement proceeds in your income.


DawnC0
Intuit Alumni

If I received a settlement check for an auto accident that occurred in 2011. Where do I enter that information? Should I have received a tax document for it?

It depends on how the payment was made. Generally, compensatory damages for a personal injury claim are not taxable unless you have taken medical expense deductions on previous returns. Punitive damages and damages other than personal injury cases are usually taxable. If you are not certain, asking the attorney is usually the best way to find out if the settlement was taxable or not.

If your settlement was taxable, you should receive a 1099-Misc. Issuers have until Jan 31 to send out documents, so you may still receive one if you have not already.  

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies