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Phillips Esq.
Phillips Esq., Financial Analyst and Licensed Attorney
Category: Finance
Satisfied Customers: 19665
Experience:  B.A.; M.B.A.; J.D.
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I have a question about a settlement check I have received.

Customer Question

I have a question about a settlement check I have received. Is it taxable. It was paid to me from a bankruptcy court for a court judgment I received in 2011.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I received a judgement on a lawsuit in 2010. In 2011 the person I filed against filed bankruptcy. The bankruptcy finally paid out just now. The judgement I received was for material I was not allowed to retrieve. Basically a wrongful eviction.
JA: Is there anything else the Accountant should be aware of?
Customer: I am 67 years old on social security income. The settlement check I received was for a little over $35,000.00
Submitted: 6 months ago.
Category: Finance
Expert:  Phillips Esq. replied 6 months ago.

Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Expert:  Phillips Esq. replied 6 months ago.

Kindly note that I just came across your post. I do not have control over the question list. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

No, this particular settlement check for reimbursement for the value of your personal property is not taxable and thus should not be reported on your tax return. For more information, click here.

Best wishes,