It depends. Form 1099-K is an informational report from payment processors to the IRS. TurboTax does not provide a separate topic for entering 1099-K because these payments could result from many different sources. You decide how you wish to report the income (if any) on your tax return, even if you don't report the entire amount from 1099-K.
Insurance proceeds are generally not taxable, as long as the money is used to repair the damage to or replace the insured property.
Any other income included on Form 1099-K should be reported under the appropriate area of your tax return.
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