A typical structured settlement is designed with a single mindset, to provide significant tax advantages to the injured plaintiff. Because of this there can be significant tax consequences associated with selling part or all of a structured settlement settlement. For example, while the payments made under the structured settlement were not taxed, you should expect to have the lump sum amount received through the sale of the structured settlement to come with a tax deduction.
Wednesday, February 23, 2011
Tax Consequences
A typical structured settlement is designed with a single mindset, to provide significant tax advantages to the injured plaintiff. Because of this there can be significant tax consequences associated with selling part or all of a structured settlement settlement. For example, while the payments made under the structured settlement were not taxed, you should expect to have the lump sum amount received through the sale of the structured settlement to come with a tax deduction.
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