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Punitive damage awards received because of a personal injury? Are the same as loss-of-income damages. Are included in gross income regardless of the cause. Will
Punitive damage awards received because of a personal injury?
Are the same as loss-of-income damages.
Are included in gross income regardless of the cause.
Will be excluded from gross income if the award resulted from a physical personal injury.
Will be excluded from gross income because punitive awards are meant to punish the offender for gross negligence.
Are never taxable.
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