Ask Experts Questions for FREE Help !
Ask
    Sarge34's Avatar
    Sarge34 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 3, 2010, 08:27 AM
    I received a 1099-misc non-employee compensation for having my vehicle repaired.
    I received a 1099-MISC from my vehicle insurance company. I had damage to the vehicle and the repair check came in both my name and the body shop. I simply signed the check over to the body shop when the repairs were made. Why would I get the 1099-MISC and what should I do.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 1, 2010, 03:51 PM
    I see no logical reason WHY you got a Form 1099-MISC.

    Insurance payments for claims that involve damage repairs are NOT taxable.

    Go back to the insurance company and ask why they issued a Form 1099-MISC.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Mar 2, 2010, 03:02 AM

    In which box the amount is reported?
    I am not sure if you are required to report it.
    If you have casualty and theft loss, you can claim as itemized deduction the amount that is more than you received from insurance company subject to 10% and $500 rules.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1099 MISC NonEmployee Compensation [ 4 Answers ]

I received a 1099 Misc from my previous employer. I'm wondering if it is correct. Here's some more specific information regarding it: I was fired from my employer, however, as part of my severance package, they agreed to pay my health & dental insurance for 9 months. I then received a...

What can be included in the nonemployer compensation section of the 1099 misc? [ 2 Answers ]

My wife received a 1099 and the nonemployee compensation line represented more money than she was actually paid. Are their other things that can be included other than actual pay and if so, what types of things...

1099 Misc Income - Nonemployee compensation - Tips [ 6 Answers ]

Hi, While doing work as a independent contractor out of town for 10 days for a company, I tipped the hotel cleaning lady 25.00 at the end of my stay. I did not report this as an expense on my invoice to the company. Can I deduct it at all anyway? Also where it is on the federal form that I...

1099 Misc Income - Nonemployee compensation [ 3 Answers ]

I'm in the process of doing my taxes using TaxAct and this income has me stumped. I was laid off my job of 10 years working for a government contractor. After a few months, I was then asked to do some work out of state for another government contractor. I was not their employee, but independent...

I received an 1099 misc from an employer [ 5 Answers ]

I Received A 1099 Misc Form From An Employer Where Do I Report This Income ,I Usually Use The 1040 A Form Can I Still Use This Form? I Am A Us Citizen

View more questions Search