Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
What is your structured settlement for? Was it for physical injuries?
If the settlement is tax free, and you only make $9,000 off your disability and that's your only income, then you will not have to file a tax return
You can follow up with more details of your settlement, if you would like
Do you have further questions? If not, please rate my response as "excellent" so that I may receive credit for assisting you today.
yes it was for physical injuries from a auto accident it was set up by my attorney for a lifetime annuity and is tax free.and I receive about 9,000 a year from disability. I have no other income
Then, no - this is not a taxable settlement and there is no requirement to file an income tax return
thankyou very much. so if someone asks for my last three year tax forms I can tell them I don't have to file taxes due to ssd and tax free non-reportable tax free annuity right ?
Yes, that would be correct.
If you would, please rate my response "excellent" as that is how I receive credit for assisting you todya
yes I will thank you again
You're welcome. Have a great day.