Insurance payment taxable

dwcliff Posts: 1, Reputation: 1

New Member

Dec 20, 2009, 01:03 PM

Insurance payment taxable

I have received payments from a homeowner insurance policy to repair the house and replace damaged contents. Are these payments taxable?

Fr_Chuck Posts: 81,301, Reputation: 7692

Expert

Dec 20, 2009, 01:42 PM

No they are not taxable

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