Paying taxes on a class action lawsuit... - Loan Modification - Free Foreclosure Help

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01-31-2009, 03:35 AM

Yvon

Junior Member

Join Date: Jan 2009

Posts: 1

Paying taxes on a class action lawsuit...

...against former mortgage lender? I received a check from a class action lawsuit (in which I was the class representative and received an award of $10000). They were found guilty of setting-up an illegal entity and overcharging individuals fees on securing a loan. I just want to know do I have to pay taxes on the settlement monies I received?

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