Is a water line break considered a disaster?

Does deductible from water line flood count?

posted

It's a disaster, but not a deductible one if this relates to your personal residence or property. Only federally declared disasters give rise to deductions on your tax return under current law.

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I purchased a co-op unit that I rent out. Is the portion of the co-op monthly maintenance charge that goes to mortgage principal considered an expense for Schedule E?

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