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vzw-dse
New Member

I have a settlement from the Deep Horizon Oil spill from BP. Is this income taxable?

 
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‎June 4, 2019 10:13 PM
last updated ‎June 04, 2019 10:13 PM
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CherylW
Level 3

I have a settlement from the Deep Horizon Oil spill from BP. Is this income taxable?

Yes, it is.

See this article for how to report it:

https://www.irs.gov/uac/gulf-oil-spill-questions-and-answers

‎June 4, 2019 10:13 PM
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