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Do I have to pay tax on a car accident settlement in NJ?

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Do I have to pay tax on a car accident settlement in NJ?

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  1. It depends on what the money is for.

    Pesonal injury, not taxable.

    Lost wages, taxable.

    Punative, taxable.

    Repairs to put car back the way it was, not taxable.


  2. It all depends.  If you received a settlement for personal injury, then no; it cannot be taxed.  Loss wages can be taxed.
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