Dallas-Fort Worth Real Estate Investor Club

is insurance reimbursement income?

  • 03 Feb 2026 3:25 PM
    Message # 13593711

    Do I need to count as income the proceeds of an insurance settlement that was because of damage the tenant caused, filed on their insurance, but sent directly to me as the property owner?

  • 04 Feb 2026 8:50 AM
    Reply # 13593984 on 13593711

    I am not a tax professional but income is income. So I would think that it needs to be declared but the cost of repairing the damages should cancel it out. 

    Last modified: 04 Feb 2026 8:50 AM | Philip M
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