if the payment only covers the value lost in the car

來源: caliber 於 2008-11-02 19:46:43 [] [博客] [舊帖] [給我悄悄話] 閱讀數 : (233 bytes)
回答: I am not so sure on that 由 caliber 於 2008-11-02 16:52:51

then it may be considered as return of basis. if there is no gain, then no need to report the income.

I guess you answer was correct in most of the cases. But still, it all depends on what the money is intended to replace.

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