Solved: Is a claims payment from my homeowner's insurance company considered miscellaneous income?
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Is a claims payment from my homeowner's insurance company considered miscellaneous income?

Does it get offset by the full cost of the repair?
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Is a claims payment from my homeowner's insurance company considered miscellaneous income?

No, it's not income if it's to repair damage to your home.  There is no need to report it on your taxes.

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Level 5

Is a claims payment from my homeowner's insurance company considered miscellaneous income?

No, it's not income if it's to repair damage to your home.  There is no need to report it on your taxes.

View solution in original post

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