Will workers compensation count as income? How? 10 Answers as of August 31, 2015

In filing for bankruptcy, should I include workers compensation as income?

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Ronald K. Nims LLC | Ronald K. Nims
Yes and no. The part of workers compensation that is paid to replace wages is income. The part of workers compensation that is paid for personal injury isn't income. At the end of the year you'll get a Form 1099 which will break down the taxable and nontaxable amounts.
Answer Applies to: Ohio
Replied: 5/25/2015
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Yes, it will be included as income. No worries!
Answer Applies to: Colorado
Replied: 5/20/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
Workers compensation benefits are income if they are paid out to you on a monthly basis. If you received a lump sum distribution, you might not include that as income but you would still need to disclose it on your Means Test.
Answer Applies to: Nevada
Replied: 5/20/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
That would be a yes.
Answer Applies to: New York
Replied: 8/28/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
First things first: retain an experienced bankruptcy lawyer. It's almost always worth it. That said, your lawyer's advice on how and where to disclose the WC is very important. Some of it may be subject to exemption, for example, and therefore be beyond the reach of creditors and the Trustee. It may count on the Means Test, determining whether you can file under Ch. 7, or must file under Ch. 13. Good Luck. Get a lawyer.
Answer Applies to: Wisconsin
Replied: 5/20/2015
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