Where do I declare insurance settlement payment for property damage for rental property, insurance payment was same as actual repair costs.

[yang123456]

Where do I declare insurance settlement payment for property damage for rental property, insurance payment was same as the actual repair costs. And I paid all the money to the contractors, do I need request some form for the cost?

[PatriciaV · Accepted solution]

A Casualty Loss for Rental Property is reported as a Rental Expense, net of any insurance payments. If the insurance covered the entire repair cost, you have nothing to report.

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