I recved a final settlement of my volkswagen amount of 5k is this taxable and where should i report this in the 1040?

[IsabellaG]

No, if this was a situation where your car was totalled and you received an insurance settlement, there wouldn't be a taxable event unless this was a business vehicle. 

You would subtract your cost basis (what you paid for the car) from the $5K you received to determine a gain or loss. If you paid more for the car than what you received as a settlement, you'd have a loss, but it's not deductible (or reportable) because it's a personal loss.