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I had $9,000 in wind damage to our rental property. We paid $500 for the deductible. Do we just put $500 down as a repair expense?

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I had $9,000 in wind damage to our rental property. We paid $500 for the deductible. Do we just put $500 down as a repair expense?

Yes, you may deduct the $500.00 that you paid for the insurance deductible as a repair expense.

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I had $9,000 in wind damage to our rental property. We paid $500 for the deductible. Do we just put $500 down as a repair expense?

Yes, you may deduct the $500.00 that you paid for the insurance deductible as a repair expense.

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