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Level 1

Is worker comp Settlement considered income?

I received a workers comp Settlement for 11,900.00 is this considered income?
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Level 1

Is worker comp Settlement considered income?

No, workers' compensation benefits are not taxable income.

"Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a work­ers' compensation act or a statute in the nature of a workers' compensation act. The exemption also applies to your survivors. The exemption, however, doesn't apply to retirement plan bene­fits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury." Source: IRS Pub. 525 Taxable and Nontaxable Income, page 18.

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Level 1

Is worker comp Settlement considered income?

No, workers' compensation benefits are not taxable income.

"Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a work­ers' compensation act or a statute in the nature of a workers' compensation act. The exemption also applies to your survivors. The exemption, however, doesn't apply to retirement plan bene­fits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury." Source: IRS Pub. 525 Taxable and Nontaxable Income, page 18.

Level 2

Is worker comp Settlement considered income?

The answer I see answers a question about the worker's compensation, not the settlement.

Is the settlement you get to close the case taxable?