Declaring insurance reimbursement as income

My insurance company reimbursed me for repairs to the drywall of the rental property I own in the amount of $2,000. However, I only spent $850 on the repairs. Do I include the $850 as a rental expense and the $2,000 as income? Would that be rental income?

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Declaring insurance reimbursement as income

Yes, you have $2000 of rental income and an $850 deductible rental expense.

Where do I enter rental income and expenses?

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