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Level 5
July 17, 2025
Solved

Gap Insurance refund

  • July 17, 2025
  • 2 replies
  • 10 views

I received a Gap insurance refund check for a travel trailer that I paid off. 

Would that be considered taxable income?

    Best answer by robtm

    No, that's merely a return of your own money that you previously paid. Refunds of your own money are not taxable. 

    2 replies

    robtmLevel 10Answer
    Level 10
    July 17, 2025

    No, that's merely a return of your own money that you previously paid. Refunds of your own money are not taxable. 

    Level 15
    July 17, 2025

    It would only be taxable if the refund was more than the premiums you paid, and then only the amount over would be taxable.