topic Do I have to claim insurance settlement as income? I received an insurance settlement for paintings that were damaged during shipping. The policy was held by the gallery. in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-insurance-settlement-as-income-i-received-an-insurance-settlement-for-paintings/01/212299#M87108 Sat, 01 Jun 2019 18:14:41 GMT dotonawalk 2019-06-01T18:14:41Z Do I have to claim insurance settlement as income? I received an insurance settlement for paintings that were damaged during shipping. The policy was held by the gallery. https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-insurance-settlement-as-income-i-received-an-insurance-settlement-for-paintings/01/212299#M87108 Sat, 01 Jun 2019 18:14:41 GMT https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-insurance-settlement-as-income-i-received-an-insurance-settlement-for-paintings/01/212299#M87108 dotonawalk 2019-06-01T18:14:41Z You would report it only if they paid you more than the p... https://ttlc.intuit.com/community/taxes/discussion/you-would-report-it-only-if-they-paid-you-more-than-the-p/01/212306#M87110 <P>You would report it only if they paid you more than the paintings were worth and you had a gain.</P> Sat, 01 Jun 2019 18:14:42 GMT https://ttlc.intuit.com/community/taxes/discussion/you-would-report-it-only-if-they-paid-you-more-than-the-p/01/212306#M87110 Coleen3 2019-06-01T18:14:42Z