I received an insurance claim in 2018 for repairs done in 2019. Do I need to report the insurance claim as income for 2018 or just deduct it from repairs next year?

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I received an insurance claim in 2018 for repairs done in 2019. Do I need to report the insurance claim as income for 2018 or just deduct it from repairs next year?

You will deduct it from repairs in 2019.

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I received an insurance claim in 2018 for repairs done in 2019. Do I need to report the insurance claim as income for 2018 or just deduct it from repairs next year?

You will deduct it from repairs in 2019.

I received an insurance claim in 2018 for repairs done in 2019. Do I need to report the insurance claim as income for 2018 or just deduct it from repairs next year?

Thank you!

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