WITAXLADY Posted March 8, 2018 Report Share Posted March 8, 2018 I am trying to figure out my own situation when client comes in with $13,000 insurance check for fire.. from what I can see it is not taxable as went for repairs of business Mine - we lost a barn New Year's night - came home from visiting children and grandbabes and up in flames along with 140 market lambs.. just in time to save the building next to it Received $$ for lambs and so far replacement -depreciation for building, equipment If we build or not - again - this should not be taxable? Seems dumb to ask but seems like dumb to not be taxed (government left that open?) and yet why should it? Then what happens to the depreciable item? Fill out disposition for casualty/theft? Thank you - brain is fried and just March - seems like I have nothing done - still in January! D Quote Link to comment Share on other sites More sharing options...
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