Income tax consequences of damages awards and settlements

AuthorStanley P. Stephenson/David A. Macpherson
Pages215-222
INCOME TAX DAMAGES:
AWARDS/SETTLEMENTS
8-1
CHAPTER 8
INCOME TAX CONSEQUENCES OF
DAMAGES AWARDS AND SETTLEMENTS
§800 INTRODUCTION
§810 TAX TREATMENT OF DAMAGES AWARDS AND SETTLEMENTS
§811 General Rule 1
§812 Exception for Damages on Account of Personal Physical Injury and Physical Sickness
§813 Emotional Distress Damages
§814 Punitive Damages
§820 TAX ADJUSTMENTS FOR TAXADVANTAGED PERSONAL INJURY DAMAGES
§821 Is an Adjustment Required?
§822 An Example of Adjusting for Taxes in Case involving Personal Physical Injury
§830 ADDED AWARDS TO OFFSET ADVERSE TAX CONSEQUENCES

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