Discussion:Wrongful death payment

From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Redirected from Wrongful death payment)
Jump to: navigation, search

Discussion Forum Index --> Tax Questions --> Wrongful death payment

Bestcpa (talk|edits) said:

23 December 2005
I am not quite sure if a wrongful death award falls under sec 104(a)(2) and is not taxable . Any comments?

Meadowglenatmonroe@frontiernet.net (talk|edits) said:

28 April 2006
Friday, April 28, 2006

Greetings, Bestcpa.

I am not quite sure what is the essence of a wrongful death award. If a wrongful death award is considered an award for physical injury, then the wrongful death award is NOT TAXABLE.

If the wrongful death award is considered punitive damages, then it IS TAXABLE.

Thank you.


Very Truly Yours,


Angelo Liberati CPA, CFE Managing Member Accurate Accountants, CPA'S, LLC

Numbers Done Right...The First Time

Business Address: 20 Ford Court, Meadow Glen, Monroe, New York State 10950 - 4946 Business Telephone Number: (845) 782 - 5228 Business Facsimile Number: (845) 782 - 5582 Business E-Mail Address: meadowglenatmonroe@frontiernet.net


911...4 years...7 months...17 days...Always Remember...Never Forget

Dennis (talk|edits) said:

28 April 2006
Wrongful death is basically a tort, however punitive damages can attach. The proceeds are more applicable in issues of estate inclusion, where value needs to be separated between events that occurred before and after death. In general an award derived from a suit that was instituted after death would not be includable value.

To join in on this discussion, you must first log in.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Wrongful_death_payment"
Personal tools

Discussion Forums