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Deductions & credits
Yes, report the activity in 2024. No need to amend a prior return.
According to IRS Pub 547 Insurance and Other Reimbursements, "You include the taxable part of the insurance payment in income for the year you regain the use of your main home or, if later, for the year you receive the taxable part of the insurance payment."
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March 17, 2024
2:20 PM