A power company surge to my rental property destroyed the service panel and several appliances and caused repairs to be needed to the furnace. The insurance co. paid for the losses minus the $2,000 deductible. Where in Turbotax can I claim the $2k deductible loss and do I need to depreciate the appliances? If so, how do I offset them with the loss of the previous ones? It's so confusing.
Thanks for any help anyone can give me.
