I had hail damage to my rental property in 2023 and the claim was approved. The insurance company cut me a check for the repair costs (minus deductible) in 2023. I paid the roofing contractor $1,500 in 2023, but they started and finished the work in 2024 and I'll pay the final invoice soon. How should I report the $1,500 payment and deductible in 2023?
