I received $4705.02 for an insurance claim for damaged flooring. Minus $1000 deductible I got an actual check for $3705.02.
The actual replacement cost was $4839.66 which means I had $1134.66 out of pocket. Since this was a repair, can I claim this as a repair under the De Minimis Safe Harbor or because the actual repair was over $2500 do I have to capitalize?
Thanks,
Jeff
