turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
ToddL
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?

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?

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies