Punitive damage awards received because of a personal injury
A) Are the same as loss-of-income damages.
B) Are included in gross income regardless of the cause.
C) Will be excluded from gross income if the award resulted from a physical personal injury.
D) Will be excluded from gross income because punitive awards are meant to punish the offender for gross negligence.
E) Are never taxable.
Correct Answer:
Verified
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