My and my sister received an out of court settlement for our mother’s wrongful death. It is my understanding that is not considered taxable.income However is the 1/3 of the money for the lawyers cut deductible.
No, it isn’t. Legal expenses are deductible only if they are incurred in gaining taxable income.
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More »I will try to keep this as short and sweet as possible, but it is a rather long and involved story, so please bare with me.
I have a very dear friend, who just lost his 16 year old son to cancer. (the type of which I am unsure of at the moment) The boys [...]
i have a lawsuit for wrongful death the victim is my mother if i win the settlement who gets the settlement money is it me because i am the one who hired the lawyer or does the rest of my family also get part of the settlement?
you get the money because you are the one [...]