Potentially will be receiving settlement from a personal injury lawsuit.
To give some context, my mother suffered an accident that was the fault of NYC’s MTA(metropolitan transit authority) a few years back and the case was reaching its conclusion until she unexpectedly passed in late 2022. Lawyers contact myself and my siblings stating that case can still move forward provided one of us is the executor of her estate. Still have some time to decide. A Settlement is on the table and I’m curious as to what taxes would I be required to pay ? Temporary income ? If I was to become the executor of estate.
For the USA,
It’s non taxable both federally and on the state level.
For Japan, I’m quite sure there’s some kind of taxation on this.
by Pleistarchos