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Is money received while on Worman's Comp taxable or does it need to be reported? - Printable Version

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Is money received while on Worman's Comp taxable or does it need to be reported? - noblett@amaonline.com - 01-13-2010

Is money that you received while on Workman's Compensation taxable? Or has it already been taxed and reported to IRS. Do you have to report it when you file your income tax?

Thanks,

Gary
Texas


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - bronco54501 - 01-13-2010

I know in WI you dont.


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - inpainokla - 01-13-2010

ive always been told work comp monies are non taxable


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - halftrak - 01-13-2010

Sounds right To Me, I Do Believe Inpainokla is Right.NonTaxable


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - bagpussinamerica - 01-13-2010

I was recently told by a U.S. Tax official, that w/c is not taxable, and does not need to be reported.


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - noblett@amaonline.com - 01-13-2010

bronco54501 Wrote:I know in WI you dont.



RE: Is money received while on Worman's Comp taxable or does it need to be reported? - 1171 - 01-13-2010

disability payments from work comp or other disability sources is not defined as gross or earned income by the IRS.
see title 26 of the IRS code:
http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000104----000-.html


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - AQA - 01-14-2010

Workers compensation paymenys are not taxable.

Just to throw a note in. SSDI payments are another issue.


RE: Is money received while on Worman's Comp taxable or does it need to be reported? - Still in Limbo - 01-14-2010

Non-Taxable!!Wink