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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 happens?â¢ What would happen if they had a separate husband and wife trust? 16. Example 2 â¢ Clientâs deceased auntâs estate/trust sent client a check for $20,000. Is it taxable, and where do I report it?â Distribution â PODâ Specific Bequestâ¢ Clientâs healthy auntâs trust sent client a check for $20,000.