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wimjan
May 9, 2020
Question

I received a car warranty claim settlement for underlying damages. do i need to report this?

  • May 9, 2020
  • 1 reply
  • 0 views
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1 reply

O
Opus 17
Employee
May 9, 2020

For a personal vehicle, you have nothing to report unless the payment was more than you paid for the car. If this is a business vehicle, you may need to make some adjustments to the cost basis.

    W
    wimjanAuthor
    May 12, 2020

    Thank you for all your help 😃

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