Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
S
smokey7
April 11, 2024
Question

A municipality violated the Missouri Sunshine Law against me. I was awarded a summary judgement settlement by the judge. Is this money taxable or not taxable?

  • April 11, 2024
  • 1 reply
  • 0 views
No text available

1 reply

O
Opus 17
Employee
April 11, 2024

Taxable.

 

Settlements are taxable according to the type of income they represent.  Settlements would be non-taxable if they are for physical illness and injury, or if they are for property damage (with the notation that if you receive more money for damaged property than your purchase price or cost basis, that extra is taxable).  Settlements for wages are taxable as wages.  Other settlements for wrongdoing (punitive damages, etc.) are taxable. 

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification