Section 104 A 2 Of The Internal Revenue Code

Internal revenue code section 104 a 2 excludes from gross income compensatory damages.
Section 104 a 2 of the internal revenue code. 2 read as follows. Compensation for injuries or sickness. Code unannotated title 26.
Tax code section 104 a 2 provides that damages other than punitive damages received on account of personal physical injuries or physical sickness are excludable from the recipient s gross income for tax purposes. Internal revenue code 104. Prior to amendment par.
104 188 1605 a amended par. 104 u s. Received through prosecution of a legal suit or action or through a settlement agreement entered into in lieu of such prosecution 2.
For purposes of section 104 of the internal revenue code of 1986 amounts paid pursuant to this section shall be treated as amounts described in subsection a 5 of such section.