insurance money in lieu of rental income

A rental property had a fire and did not incur any rental income for 2022. Insurance was able to pay me out for a great portion of this rental income loss as part of my rental income loss coverage. Am I obligated to treat this income same as rental income?

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insurance money in lieu of rental income

Yes, the amount the insurance company paid you for 'loss of rental income' should be reported as Rental Income.

Here's more info on Insurance Payments for Loss of Rent.

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insurance money in lieu of rental income

Yes, the amount the insurance company paid you for 'loss of rental income' should be reported as Rental Income.

Here's more info on Insurance Payments for Loss of Rent.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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