Trying to deduct expenses for repairs on our rental. Had to replace the roof (leaked) and floor (water damage ruined wood floor). Cost was >$15k. Can we deduct?

[Rich293]

Insurance paid for floor (damaged in living room), we paid out of pocket for rest of house to install wood floor (was an old oak floor).

[PeterM · Accepted solution]

Yes, the work that you did that was not paid for by your insurance proceeds is deductible.

However, the costs are deductible over time through depreciation. These are considered "improvements" and must be added to the depreciation schedule as such.