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Deductions & credits
If you were actively pursuing making money and damaged some property the costs not covered by insurance is a deductible business expense.
It must have been paid in 2018, and you have records for this.
List it as a Misc Expenses for damages paid while moving work equipment on your Sch C.
Due to the large nature of it, just keep good records should IRS ask for verification a year or two from now.
If you got a ticket or fine that is not deductible.
‎June 3, 2019
1:26 PM