Q: I received a $40k settlement for harassment & relocation from an owner move-in eviction. How much, if any, is taxable?
This was a no-fault eviction in San Francisco that was not in good faith. The apartment was rent-controlled and I lived there for 15 years. I have a disability that was included when determining the relocation amount. There wasn't anything designated for wages or lost wages or other lost work terms because those don't apply in an eviction case.
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A: If there is still time you may have your attorney contact opposite attorney and allocate the settlement, say $30k mental distress (which is non-taxable) and $10k reallocation. If not written, then , use the actual amount spent on relocation as taxable income and declare the balance as non-taxable income. Better yet, talk to your CPA as your settlement is global, Best of luck.
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