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Updated about 13 years ago on . Most recent reply presented by

William Johnson's profile image
William Johnson's profile image
William Johnson
  • Real Estate Investor
  • from Pomona, California
  • Member since Oct 18, 2009
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William Johnson's profile image
William Johnson's profile image
William Johnson
  • Real Estate Investor
  • from Pomona, California
  • Member since Oct 18, 2009
Connect
William Johnson
  • Real Estate Investor
  • Pomona, CA
25
Votes |
56
Posts
Tax, SDIRAs & Cost Segregation

Unused Insurance Claim Tax Consequence

William Johnson
  • Real Estate Investor
  • Pomona, CA
Posted

A rental property suffered damage in a wind storm. An insurance claim was submitted and a settlement was made. Repairs were made with a portion of the money. There was no change in the value of the property.

How is this handled with income tax? Where do I put it on what form?

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