Quote:
Originally Posted by schteve_d
Strange, and probably stupid, offshoot question that popped into my head while reading this thread: If a person is awarded a large sum of money in a lawsuit like this, do they claim the net received amount, after lawyers are paid and everything else, as income on their taxes?
Totally irrelevant to this discussion, I know, but curious anyway. I would suspect they would have to.
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Generally court awards for damages are non-taxable.