Income Tax When filing a tax return, do I have to include insurance refund from auto accident?
When the presentation a tax return, do I have to include insurance refund from a car accident? My car was totaled. My insurance paid off my loan for the car and handed me $ 6000 after the reward. Is it necessary that the report now submitted my tax return?
Assuming who paid the fair market value of the car, and that was less than they paid for it first, it is not necessary to say that in your tax return.
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Income Tax
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