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Taxable Income
#1
Is WC taxable income? I was told by my case worker at WC that I would not get a W-2 or 1099 from them. I am confused. I am in Indiana.
 
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#2
US Tax Code:
"Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) for any prior taxable year, gross income does not include—
(1) amounts received under workmen’s compensation acts
as compensation for personal injuries or sickness; "


http://www.law.cornell.edu/uscode/html/u...-000-.html
Reminder :
........Each state has their own comp system; POST YOUR STATE to get accurate information. Use the search feature to find information from similar questions.
THANKS FOR POSTING.
 
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#3
WC payments are tax exempt, as 1171 showed.
8-05, Micro laminectomy/disectomy. 10-05 lumbar fusion L5-S1. 2-07 exploritory surgery. 12-07 medical implant, Spinal Cord Stimulator. now receiving SSDI. After going back to school, I received my degree as a mechanical engineer. What can I say, it was the only way I had to beat the system. 
 
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#4
1171 Wrote:US Tax Code:
"Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) for any prior taxable year, gross income does not include—
(1) amounts received under workmen’s compensation acts
as compensation for personal injuries or sickness; "


http://www.law.cornell.edu/uscode/html/u...-000-.html

Thank you for your help.
 
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#5
AQA Wrote:WC payments are tax exempt, as 1171 showed.

Thanks
 
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