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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.).
What makes corporate sponsorship payments non-taxable? One way is to make sure corporate sponsorship payments meet the definition of qualified sponsorship payments.. A qualified sponsorship payment is acknowledged by the charitable nonprofit in the same way as any other charitable donation.