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In that case, you'd report the medical expenses related to the incident as miscellaneous (other) income. Punitive damages are taxable except in certain wrongful death cases, as are awards for employment discrimination and injury to reputation (libel, slander, defamation, etc.).
âCheryl Warren, Conn. Answer: No, itâs not taxable. There are no income tax consequences to what you receive from a divorce proceeding if it was part of the marital estate, says Christian Badali, partner in the family law group at Philadelphia-headquartered law firm Weber Gallagher LLP.