Hi,
My work truck had a tree fall on it at my house from a storm. It was damaged to the point the insurance company totaled it, but it was still drive-able and plenty road safe so I bought it back from them. How do I report this on my taxes? Should I list it as sold and that I bought another vehicle for the buy back price I paid? I had taken a section 179 on this truck the year I bought it and have had it for 6 years.
Thanks in advance!
