Legal Question in Tax Law in California
I have a small claims court award from 2009, (paid from my homeowner's insurance company) to repair damage to a fence/retaining wall on my property. The associated repair work was also completed in 2009. Is this award taxable?
Asked on 2/17/10, 11:02 am
1 Answer from Attorneys
C. Coulter Mulvihill
Cynthia Coulter Mulvihill, Esq.
The award is not taxable, because it was used to restore a damaged piece of property and make it whole again.
Answered on 2/22/10, 9:14 pm
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