You'll need to sign in or create an account to connect with an expert.
An auto insurance claim and payment is not taxable income so is not reported on a tax return.
and if the cost to repair was more than insurance (usually the case because of deductible unless another party was at fault) and this involves a personal casualty loss, such loss is no longer deductible (2018-2025)
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
bmroell
New Member
blanfordmatt1990
New Member
goyal_raj
Level 2
beltec75
New Member
lynnfelske
New Member