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6692dsf
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Can I deduct expenses made for my rental property after my tenants destroyed it?

Can I deduct improvements made to my rental after my tenants destroyed my rental property?
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3 Replies

Can I deduct expenses made for my rental property after my tenants destroyed it?

Yes, it's all deductible.  Fix it up and try again.  As you know, if you install a major item like a roof or new driveway, you are supposed to depreciate it over the useful life.  New appliances may require depreciation.  New carpet / flooring may require depreciation.

Paint/Doors/windows/hauling - expense

Been There...

Anonymous
Not applicable

Can I deduct expenses made for my rental property after my tenants destroyed it?

did you have insurance covering this type of loss?  if so, did you file a claim? 

Can I deduct expenses made for my rental property after my tenants destroyed it?

In my cases, no claim was made by me.

Rental properties require a different policy known as a “dwelling fire policy” or 'Landlords Policy' that cover vandalism

In order to claim vandalism, owners must file a police report and press charges against the offender, in most cases.

Compare total repair amounts vs deductible, keeping in mind that insurance companies may not continue coverage on property if a claim is made..  If flood or fire damage, expenses can add up.

You should check with your insurance agent.

 

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