Irs Section 104

1 in general.
Irs section 104. Section 104 a 2 excludes from gross income the amount of any damages other than punitive damages. Except in the case of amounts attributable to and not in excess of deductions allowed under section 213 relating to medical etc expenses for any prior taxable year gross income does not include. 104 a 2.
104 a a in general. Internal revenue code 104. 104 191 title iii 311 c aug.
In 1996 congress through the small business job protection act amended this section to specifically provide that damages received under a claim of personal injury or sickness are only excludable if the injury or sickness is physical. 104 a 3. 2 cause of action and remedies.
Compensation for injuries or sickness sec. Except in the case of amounts attributable to and not in excess of deductions allowed under section 213 relating to medical etc expenses for any prior taxable year gross income does not include 1 amounts received under workmen s compensation acts as compensation for personal injuries or sickness. The section 104 a 2 exclusion may apply to damages recovered for a personal.
The amount of any damages other than punitive damages received whether by suit or agreement and whether as lump sums or as periodic payments on account of personal physical injuries or physical sickness. This paragraph c applies. Compensation for injuries or sickness on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system.
Internal revenue code section 104 a 2 compensation for injuries or sickness. 21 1996 110 stat. The amendments made by this section amending this section and section 692 of this title shall apply to taxable years ending on or after september 11 2001 effective date of 1996 amendment pub.