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Old 07-23-2009, 03:22 PM
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Would check from Ins. be taxable?

What is the name of your state (only U.S. law)? Virginia

I sustained water damage due to a pipe bursting. Ins. agent called a Restoration Co., and after completing work they submitted invoices to us and also our Ins. carrier. The Ins. adjuster wants to send a check for us to deposit, then pay the Restoration Co. Will I have to pay taxes on this money?

Thanks for any help given.What is the name of your state (only U.S. law)?
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Old 07-23-2009, 08:54 PM
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Quote:
Will I have to pay taxes on this money?
No. It is not taxable income.
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