Of course, much of the proceeds from the insurance will be used to replace items that were damaged, if not applied to the purchase of a new residence the majority of which in my case will be in the next year (2025). Are you suggesting that extensive item purchase records need be kept. Seems an impossible task, and one that can't possibly be determined in this taxable year 2024 to any significant degree.
Your opinion seems different than what I had been told
