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Our condo recently settled a case where we sued the sponsor for structural damages. Are the proceed taxable? I don't think they are but I am not sure.
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Not meaning to sound flippant, but simply ask your condo's accountant. He has much more information about the structure of the settlement and how it relates to your condo's finances than anyone in these forums.
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Board Talk members who registered prior to March 9th, 2016 will need to reset their password.