How are Insurance Reimburements Taxed?

October 22, 2012 Written by

When you suffer a property loss, and it is covered by business or homeowners insurance, you can typically expect to receive some reimbursement under yourinsurance policy. Although you are receiving money, it isn’t always treated as income under IRS tax laws. Several factors affect how you will report property
insurance reimbursements on your tax return.

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Written by: Doug Rodrigues