I received a 1099-MISC from the NC INSURANCE UNDERWRITING ASSOCIATION for a $6000.00 grant to help pay for a roof upgrade to a "Fortified roof" on my primary residence. It was called the "Strengthen Your Roof Grant".
The FATCA filing requirement box is NOT checked on the 1099. It was reported as other income on line 3.
There was no damage to the roof and no claim filed. This is a grant program that the NC Underwriting Association does for homeowners that live in specific areas prone to hurricanes (Outer banks of NC). It's cheaper for them to put fortified roofs on homes instead of paying for possible damage to the roof and interior damage of a home should it be damaged by a hurricane. Must I claim this as income on my 2020 taxes?
Thank You
