On 9/16/19 5:38 PM, [email protected] wrote: > Are insurance proceeds income? If not, how do you characterize an insurance > payout when they send you a check?
The real question is "Is it taxable?" to which the answer varies according to your taxing authority. I have always considered it "income" but I know of others who think it is a "return of premiums paid". Certainly it is also an offset against a "loss". > > I've seen a reference online to using accounts receivable against lowered > value of inventory, but that approach doesn't seem to apply to a homeowner > who has storm damage or a fire. > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
