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Utility Easement taking by eminent domain
Consumers Power is putting a utility easement across my property. Consumers wants to issue a 1099S for $26,000 to reimburse me the cost of timber removal, stump grinding, and leveling the ground so Consumers can install their power lines. Consumers tells me this is for reimbursement for damages incurred in the removal, grinding and leveling. Consumers says this is not taxable income since it is reimbursement for damages caused by the utility easement. Is this true that it is not taxable to me?
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‎December 18, 2023
9:41 PM