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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- How do I report Rental property fire restoration expenses in excess of insurance reimbursement?
How do I report Rental property fire restoration expenses in excess of insurance reimbursement?
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mstsax
Level 3
03-06-2023
04:35 PM
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Our single family rental house suffered major smoke damage from the fire that destroyed 1000 homes. The house could not be rented for 4 mo. The smoke mitigation and interior repairs cost $60,000. Insurance paid $48,000. How do I report?
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taxes96786
Level 9
03-06-2023
09:43 PM
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Topic No. 515 Casualty, Disaster, and Theft Losses - IRS
