My rental condo water leaking damage. Can I claim I paid to my neighbor's $8000 for casualty loss? Can I claim cost to repair my floor for casualty loss?

shimj2000 · ‎June 1, 2019

Zbucklyo · ‎June 1, 2019

Starting in 2018, casualty losses other than those associated with federally declared disasters, are not deductible.

TomD8 · ‎June 1, 2019

If this is rental property, should he be able to deduct the cost of "repairs and maintenance" on line 14 of Schedule E?

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Zbucklyo · ‎June 1, 2019

Yes, sorry skipped over the rental part.

TomD8 · ‎June 1, 2019

Personal casualty and theft losses of an individual sustained in a tax year beginning after 2017 are deductible only to the extent they're attributable to a federally declared disaster. https://www.irs.gov/pub/irs-pdf/i4684.pdf

If this is rental property, see comments below.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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My rental condo water leaking damage. Can I claim I paid to my neighbor's $8000 for casualty loss? Can I claim cost to repair my floor for casualty loss?