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I received a settlement for damage to my property. I used a good amount of the proceeds for repairs. Is the entire settlement taxable? Can I deduct the cost of repairs?
I received proceeds from a lawsuit for damage done to my property. I used a good amount of the proceeds to repair my property and a good chunk for attorney's fees. Is the entire amount taxable to me? Can I deduct the cost of the repairs? Can I deduct my attorney's fees?
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May 31, 2019
5:30 PM