I received a check from the Settlement administrator for the class action suit against Verizon for blocking indiscrimately email from certain regions and/or domains (a backfiring attempt at blocking spam). Is this $21 taxable income for 2007? If so, where would I list this on a 1040? Thanks in advance!
-- Best regards Han email address is invalid
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If you paid Verizon more than $21 for the (bad) service they provided, that should be considered a refund and is taxable only to the extent the money you paid Verizon was deducted. (If it was a personal expense, there was no deduction and hence no tax on the refund. If it was a business expense and deducted, the refund reduced the deduction hence is taxable, and your accountant should know how to handle it.) Seth
Thanks, Seth!
-- Best regards Han email address is invalid
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