In 2020 due to county roadwork next to our business/residence property, our main driveway access
needed to be changed to another driveway access on our property. The county
refunded up personally for $11,270 and claimed the payment was "for damages" and
only stipulation that we didn't use the initial main driveway. This amount was from a
bid done on the driveways to reconstruct.
Question - my business used the funds to pay for the gravel upgrade - can I deduct this as an expense for my business?
My understanding I don't have to claim the 11,270 from the county.
Any help is greatly appreciated!
