If a business receives insurance proceeds, that does not need to be claimed as income, but how do you handle the expenses of rebuilding? For example, a small building blew down in a storm. Insurance proceeds were received, and a new building was put up, which needs to be depreciated.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.