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Get your taxes done using TurboTax
It is not taxable income unless the payment was more than the repair cost. But the IRS will be looking for the 1099 since one was sent. You can follow the suggested procedure, but keep records of the situation and the repair cost for at least 3 years in case the IRS asks for more information.
‎January 17, 2022
6:46 AM
5,007 Views