it is to compensate you for your loss of severice from your car, it's not income.
In 2004, Mazda paid me $4000 for a defective transmission, the lawyer (not a tax lawyer) said I did not have to report it as income.
In 2004, Mazda paid me $4000 for a defective transmission, the lawyer (not a tax lawyer) said I did not have to report it as income.
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