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Flood insc money/homeowners insc. money, Is this INCOME

 
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sueobannbenni



Joined: 24 Oct 2006
Posts: 10
Location: New Orleans, La.
PostPosted: Mon Feb 05, 2007 8:10 am    Post subject: Flood insc money/homeowners insc. money, Is this INCOME Reply with quote
I received both Homeowners insc. money and flood insc. money for
the loss of my house in the storm. I put this in a separate account and
have only been using for the rebuild process.

So, is this money, declared as income? I hate to think what my taxes will
be. There seems to be a difference of opinion between CPA's.
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