zim55
New Member

I own a duplex and live on one side and rent out the other. A car crashed into the rentals garage and caused $6000 in damage. Can I write off my loss?

I have a $5000 deductable, the insurance company gave me $1000.

ToddL
New Member

Investors & landlords

Yes, you can deduct the cost of repairing the damage as long as the repairs did not constitute a material improvement to the property (e.g. replaced a one-car garage with a two-car garage, added storage cabinets, etc.). "Repairs" are deductible rental expenses. 

See:

What kinds of rental property expenses can I deduct?