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Is loss of rent coverage paid by insurance for my rental house considered income?
There was a major accident in my rental house and my insurance company paid for most of the damages to repair it. They also paid some money towards "loss of rent" because the house could not be rented for a while. How should this loss of rent payment by the insurance company be reflected in my taxes?
Thank you!
‎November 9, 2020
5:43 PM