Self employed

Hi Cynthia,

 

Thank you so much for your help! The whole total loss accident was stressful so this is very helpful information when I speak with the insurance company further tomorrow. To confirm, if they reimbursed me for the full value of the loss and waived the deductible, do I still need to mention anything of this total vehicle loss on my taxes? I don't think I'll be able to claim anything or get anything back since they've paid me in full. I think the only thing that wasn't covered was maybe the last full week of having a rental as they only cover up to 2 weeks.