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+--- Thread: Taxable Income (/showthread.php?tid=6699)
Taxable Income - Prunie - 02-17-2009 12:54 AM
Is WC taxable income? I was told by my case worker at WC that I would not get a W-2 or 1099 from them. I am confused. I am in Indiana.
RE: Taxable Income - 1171 - 02-17-2009 01:35 AM
US Tax Code:
"Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) for any prior taxable year, gross income does not include—
(1) amounts received under workmen’s compensation acts as compensation for personal injuries or sickness; "
http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000104----000-.html
RE: Taxable Income - AQA - 02-17-2009 03:00 AM
WC payments are tax exempt, as 1171 showed.
RE: Taxable Income - Prunie - 02-17-2009 08:54 AM
1171 Wrote:US Tax Code:
"Except in the case of amounts attributable to (and not in excess of) deductions allowed under section 213 (relating to medical, etc., expenses) for any prior taxable year, gross income does not include—
(1) amounts received under workmen’s compensation acts as compensation for personal injuries or sickness; "
http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000104----000-.html
Thank you for your help.
RE: Taxable Income - Prunie - 02-17-2009 08:57 AM
AQA Wrote:WC payments are tax exempt, as 1171 showed.
Thanks