My husband was involved in a car accident and was unable to work for a few months, he was receiving a wage loss and a household services check from the insurance company. Should I be receiving a form from the insurance and Is this considered taxable income?
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It really depends on what type of payments they were. Please see the below to determine if you payments are taxable.
Workers' compensation benefits are not normally considered taxable income on your federal or state return. There is an exception when you receive both workers’ compensation and Social Security (or Railroad Retirement) benefits and part of your workers' compensation reduces your Social Security, that part may be taxable.
Disability paid by an insurance company for lost wages, loss of limb, loss of sight (etc.) may or may not be taxable, depending on circumstance:
https://ttlc.intuit.com/questions/3468730-are-lost-wages-checks-taxable
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tonybeo
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Raph
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Raph
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