JohnB5677
Expert Alumni

Get your taxes done using TurboTax

You simply reduce the cost of the project by the amount of insurance that was paid to you.

  • Keep records of your expenses and insurance proceeds with your tax return information.
  • You can use this for reference if the IRS requires documentation.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"