BobKamman
Level 15
12-27-2024
03:30 PM
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Routine situation. Very routine. Thousands of vehicle accidents every day. Many of the victims lose wages. If they're lucky the guy who hit them had insurance. The claim is adjusted or settled or litigated. More often than not, it includes lost wages as well as medical expenses and "pain and suffering." No need to allocate. You got hurt, your compensation for lost wages is not taxable.