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E
eboerr
Level 1
April 11, 2026
Question

If my condo replaced the roof from a settlement since Ida and the homeowners still had to pay a balance. Can we deduct this unit cost in our taxes?

  • April 11, 2026
  • 1 reply
  • 81 views
The condo received a settlement payment in 2025 from an insurance claim that started after Hurricane Ida. However, the payment received was not enough to cover for a new roof. Therefore, the gap had to be distributed amongst the unit owners. Is the unit's responsibility payment tax deductible?

1 reply

A
AnnetteB6
Level 15
April 12, 2026

If the condo is your personal residence, then your share of the roof replacement is not deductible on your tax return.

 

If the condo is a rental property, then your share of the roof replacement is a rental expense.  

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