Are claims received for renters insurance due to hurricane Katrina taxable? - katrina insurance companies
The Army paid for my losses are amortized on a program, then sent me a 1099-MISC with the amount of insurance purchased on line 7. I thought that article is reserved 7 for non-compensation of employees, contractors of government, ie. If this is reported to the IRS 1099 MISC? Is this not as a loss of the damage? I do not think that this payment is a liability, because we all elements that have gone to replace lost, so we are in a better position before the hurricane, if anything, even worse!
Thursday, January 14, 2010
Katrina Insurance Companies Are Claims Received For Renters Insurance Due To Hurricane Katrina Taxable?
2 comments:
No insurance claims and reimbursements are not taxable. It's like a judicial decision (with the exception of backwages).
I think he should accordingly if it has sent to be a 1099 MISC. Here you will find everything you know on the website of the IRS.
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