money received by insurance co. for totalled car was invested in 2014.
If the car was strictly for personal use, the insurance proceeds are not taxable and are not reported on her return
If the car was strictly for personal use, the insurance proceeds are not taxable and are not reported on her return
The insurance payout is not income. If the money was invested and earns dividends or interest, those earnings are taxable.
nessawie
New Member
thisismytaxesfor
New Member
tarablonde67
New Member
zed2023
Level 1
killian2-nic
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.