All Rights Reserved - Elasticsearch. Elasticsearch is a trademark of Elasticsearch BV, registered in the U.S. and in other countries. Apache, Apache Lucene, Apache Hadoop, Hadoop, HDFS and the yellow elephant logo are trademarks of the Apache Software Foundation in the United States and/or other countries.
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.).
Although many practitioners assume that judgments and settlements are not taxable, the issue is not quite that simple. Under section 61 of the Internal Revenue Code (â I.R.C.â or the â Codeâ ), damages awarded as a result of a lawsuit are taxable unless specifically excluded by another section of the Code.