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monica-moellenho
New Member

If I received an insurance settlement for house damage, does that need to be included as income?

 
1 Reply
nyinyeb
New Member

If I received an insurance settlement for house damage, does that need to be included as income?

You do not have to include it in your tax return (If it is for your personal residence). Unless your insurance proceeds were more than the damages to your home, the insurance settlement would not be taxable.

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