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Investors & landlords
correct - and the money is not taxable at all
keep it simple, the claim paid to you is not a taxable event and has no bearing on your cost basis, whether or not you decide to fix up the house with the proceeds.
in the perfect world, if you do not fix the damage, your house is now worth that much less.
ā€ˇFebruary 27, 2020
7:56 PM
483 Views