My car was damaged at a grocery store on a windy day by a rolling empty shopping cart. Luckily I had a non-relative witness who verified my report, as well as collision coverage. I agreed to have the repairs done at a body shop on the store’s insurance affiliate’s “preferred” list—to whom I paid my $750 collision deductible. A few days later, in return for signing and returning their very detailed Property Damage Release, the store’s insurance affiliate mailed me a check for approximately $1,500 as a “Full and final settlement of all claims.” (That’s the phrase on the sheet from which I tore off my paper check.)
My question: Is any of that approx. $1500 taxable income, which I need to enter on the TurboTax “other income” page?
