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  • #16
    It depends upon the settlement type as to whether it's considered regular, taxable income. Disability insurance is not taxable. Court degree awards are.
    T3 complete since Sept 2015.

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    • #17
      If your a 100% disabled Veteran, I believe some state's pay property tax on your primary residence.

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      • #18
        Originally posted by Mize View Post
        It depends upon the settlement type as to whether it's considered regular, taxable income. Disability insurance is not taxable. Court degree awards are.
        Auto insurance claim rewards aren't taxable either. Also, Disability insurance is taxable if premiums were paid using pre-tax dollars (a lot of LTD through an employer is this kind), or if the premiums are paid entirely by your employer. SSDI is taxable, up to ~85% of it, depending on how much other income is earned.
        "I have great faith in fools; self-confidence my friends call it." - Edgar Allen Poe

        "If you only know your side of an issue, you know nothing." -John Stuart Mill, On Liberty

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        • #19
          Friend's Canadian and quad .. her hit and run settlement (annuity with lump sum payments at certain ages) was not taxed from 1988.

          My long term disability is. How ya like that eh? LOL
          Roses are red. Tacos are enjoyable. Don't blame immigrants, because you're unemployable.

          T-11 Flaccid Paraplegic due to TM July 1985 @ age 12

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          • #20
            Like Oddity said, some, all, or none of your LTD may be taxable. Depends on if the premium was paid with before or after tax dollars. My employer provided LTD ins up to a % replacement (before tax dollars), I paid additional premium to get to a higher % (after tax dollars). The additional I paid for is NOT taxed, just like contributing to a Roth IRA with after tax dollars, that will not be taxed when you withdraw it (unless they change the rules).
            Better to remain silent and be thought a fool, than to speak and remove all doubt.

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