topic Can I deduct my losses for a water leak in my apt I rent in Investors & landlords

Can I deduct my losses for a water leak in my apt I rent

daviddkny2001 — Fri, 31 Jan 2020 10:38:04 GMT

Re: Can I deduct my losses for a water leak in my apt I rent

HelenC12 — Fri, 31 Jan 2020 14:25:25 GMT

Yes you can deduction repairs but only for the rental percentage, which if you lived in the apartment, is not 100%.

To enter, see Where do I enter income and expenses from a rental property?

Re: Can I deduct my losses for a water leak in my apt I rent

TomD8 — Fri, 31 Jan 2020 15:07:26 GMT

Are you the landlord or the tenant? If you're the tenant, those are personal losses. 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.