Can I claim the deductible amount for an insurance claim on a rental property? I had a $3,500 hail damage claim and $1,000 deductible so insurance paid only $2,500.

[tracyrbates]

This is rental property not personal residential property.  Do I have to absorb the $1000 deductible that the insurance company did not cover? or can I claim this $1000 as an expense? or can I claim this $1000 as a loss?

[AlanT · Accepted solution]

You can claim as an expense for the repair of your rental property the difference between what it cost you to make the repairs and the amount your insurance company reimbursed you for the damage.  Example, if the repairs cost $3,500 and the insurance company reimbursed $2,500, $1,000 would be a repair expense on Your schedule E.