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noelleg90
New Member

Do I need to deduct taxes from insurance money I received on my car that was totaled in an accident last year? Where and how would I do that?

 
1 Reply
LisaA
New Member

Do I need to deduct taxes from insurance money I received on my car that was totaled in an accident last year? Where and how would I do that?

Insurance payments for car accidents are not taxable. They don't need to be entered on your taxes.

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