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eagle2920
New Member

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.

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Vanessa
Level 3

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?

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

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Vanessa
Level 3

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?

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"

View solution in original post

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