(Solved by Humans)-Yukio was seriously injured when he fell through an open manhole. Yukio was awarded compensatory
Question
Yukio was seriously injured when he fell through an open manhole. Yukio was awarded compensatory damages of $500,000 for his injuries, loss of current wages, reduced future earning ability, and for all of the suffering he incurred and may incur in the future. Is any of the settlement taxable toYukio? Specifically, is the amount for lost wages taxable?
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