Author Topic: Condo Repairs and Tax Deduction  (Read 973 times)

mistershankly

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Condo Repairs and Tax Deduction
« on: November 01, 2016, 05:16:37 PM »
We recently had a leak from our second floor rental condo to the neighbor below.  We are paying for the repair of both our plumbing and the damage done to the unit beneath ours.  As a landlord, can we write off the repairs to the unit below or are deductible repairs only related to the condo we own?  Any insight would be greatly appreciated.

supomglol

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Re: Condo Repairs and Tax Deduction
« Reply #1 on: November 02, 2016, 01:18:43 PM »
This was an expense directly related to the ownership of your rental condo.  I don't see any reason that you wouldn't consider the repairs a deductible expense regardless of what address it occurred at. 

Spitfire

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Re: Condo Repairs and Tax Deduction
« Reply #2 on: November 03, 2016, 09:25:06 AM »
You can deduct both costs, the repair to the other unit was caused by yours, so it's a liability/expense of your rental condo.