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New Member
posted Oct 30, 2019 4:30:38 PM

If I received payment from my insurance company for cleanup work I did after our basement flooded, do I have to claim it as income?

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2 Replies
New Member
Oct 30, 2019 4:30:40 PM

No. Insurance payments are generally not considered taxable income.

New Member
Oct 30, 2019 4:30:41 PM

No, this is not income