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Do I need to deduct taxes from insurance money I received on my car that was totaled in an accident last year? Where and how would I do that?
noelleg90
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Do I need to deduct taxes from insurance money I received on my car that was totaled in an accident last year? Where and how would I do that?
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TurboTax Deluxe Online
June 5, 2019
3:53 PM
LisaA
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Deductions & credits
Insurance payments for car accidents are not taxable. They don't need to be entered on your taxes.
June 5, 2019
3:53 PM
