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erykross
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How do I report money I got for preemptive repair costs from a collision? I was told it shouldn't be taxable. Thank you!

Our car was rear-ended, and the insurance company sent us an estimated amount for repairs.  I was told that it shouldn't be taxable, but I don't know how to report it so that it's not taxed.
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2 Replies

How do I report money I got for preemptive repair costs from a collision? I was told it shouldn't be taxable. Thank you!

you should have not gotten any tax reporting form so just don't mention it. 

How do I report money I got for preemptive repair costs from a collision? I was told it shouldn't be taxable. Thank you!

payout from insurance policy is not income.

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