Received a settlement for a wrongful death case. I only received a check from the attorney. Is there a form that I am supposed receive to show the amount of the settlement that can be added to my gross income.

ANSWER

Expert Thomas Graham iii's Answer:

Fortunately I have good news for you!  The settlement that you received due to a wrongful death case isn't taxable.  (IRS Publication 4345)  Wrongful death settlements fall under the physical injuries category which is non-taxable.  This means that all the proceeds are given tax-free to their recipients. 

Thomas Graham iii, CPA, CFE

Oklahoma

7 yrs experience

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