Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it...
No the borrowed money would not be taxable income to you that you would report on your 1040 federal income tax return as income in the year that the amount is borrowed.
$12,000 per year, per donor and donee. I can give $12,000 a year to as many different people as I choose. Any amount I pay for anyone else's educational and/or medical services, is unlimited. Any...