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Updated over 4 years ago,

Todd G.'s profile image
Todd G.'s profile image
Todd G.
  • Investor
  • from Friendswood, Tx
  • Member since Feb 7, 2017
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Todd G.'s profile image
Todd G.'s profile image
Todd G.
  • Investor
  • from Friendswood, Tx
  • Member since Feb 7, 2017
Connect
Todd G.
  • Investor
  • Friendswood, Tx
1
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3
Posts
Tax, SDIRAs & Cost Segregation

Rental Fire - are insurance proceeds taxed?

Todd G.
  • Investor
  • Friendswood, Tx
Posted

Rent house burned down. It was a total lose. Insurance money was paid out and I'm coming out ahead by $40,000. Will I need to pay taxes on the gain next year? If so, is there a way to avoid paying taxes?

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