Although that income is not taxed, homeowners still may deduct mortgage interest and property tax payments as well as certain other expenses from their federal taxable income. (taxpolicycenter.org)
Homeowners may deduct both mortgage interest and property tax payments as well as certain other expenses from their federal income tax. (taxpolicycenter.org)
PIP has two parts --(1) Medical expense coverage: Coverage for the cost of treatment you receive from hospitals, doctors and other medical providers and any medical equipment that may be needed to treat your injuries; and (2) Additional PIP coverage: Reimbursement for certain other expenses you may have because you are hurt, such as lost wages and the need to hire someone to take care of your home or family. (state.nj.us)