- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I had income from an insurance claim for a new roof and other repairs. The repairs exceeded the insurance payment by $4200. Do I need to report the income and expense?
I just need to know if I have to report the insurance check as income and then list all of my repair cost.
Topics:
June 4, 2019
8:43 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
No, if the repairs exceeded the insurance payment you do not need to report the insurance check as income. Repairs to your personal home are not deductible
**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
8:43 PM