- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If I received 500.00 dollars from my car insurance for buying a Jeep. Do report this on my taxes? If so as what ?
Topics:
June 4, 2019
4:34 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
This amount can be considered as a reduction of your insurance premium and as such is not taxable,
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 4, 2019
4:34 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
No, it would be considered a discount on the cost of your policy.
June 4, 2019
4:34 PM