Posted 6/16/2022 14:49 (#9708419 - in reply to #9708307) Subject: RE: Hail damage appearance payment taxable income?
Central IL
If the insurance check was paid for damage on buildings used in your business, then the payment is reported as income. Or another way to look at your question is if you deducted the insurance premium as a business expense then all claims are taxable.
Hail damage appearance payment taxable income?
