I own a rental property that had fire/smoke damage in 2021. This was not a total loss on my property. My insurance company provided payment for property repairs of $22,921. I had to pay my deductible of $2642. Does the fact that I had to pay a deductible qualify me for a casualty loss? If so how do I claim the loss. I am planning on selling the property in 2022. How do the insurance payments factor (if at all) into the capital gains calculations?
