Indemnity accounting?

[Ron Morse]

How about creating a new income account "Insurance Indemnity
Payments?" I'm not sure what the tax implications of such
payments are, but it may be helpful at tax time to have that
broken out separately.  

It also occurs to me that if there were any legal fees,
court costs or other charges incurred in obtaining that
payment you may want to create the appropriate splits
expensing those against the gross amount of the settlement. 

Ron Morse
 

-----Original Message-----
From: gnucash-user-bounces at gnucash.org
[mailto:gnucash-user-bounces at gnucash.org] On Behalf Of John
K. Taber
Sent: Monday, July 30, 2007 10:45 AM
To: GnuCash User Mailing List
Subject: Indemnity accounting?

I received a sum from an auto insurance company as indemnity
for an accident.

I want to show its deposit in my bank account, but how do I
show the source?

Income:Misc? 

or what.

John	

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