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DTD2 02-10-2006 23:24

Tax Question
 
I recieved a grievance settlement, in the amount of $4500, from my employer for damage to my personal property while on duty. Do I need to claim this as income? If so what form do I use?

E-mails and calls to the IRS prove fruitless and H&R block said if they did not send me a 10-99 for it than don't claim it.

Can anyone provide some insight?

Thanks in advance,
D2

BEANCOUNTER 02-17-2006 19:20

Based on the $4,500 settlement being for that amount of damage to your property, the settlement isn't income and, therefore, not subject to income tax.

BEANCOUNTER 02-17-2006 19:20

Based on the $4,500 settlement being for that amount of damage to your property, the settlement isn't income and, therefore, not subject to income tax.


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