Deducting $$ For Repairs
 

I have a family who damaged my property ( they were supposed to have it repaired but never did and have since left my care) , am I allowed to deduct the amount of the repairs from the money I had received from them?

parent damage
 

Originally Posted by Second Home:
I have a family who damaged my property ( they were supposed to have it repaired but never did and have since left my care) , am I allowed to deduct the amount of the repairs from the money I had received from them?

You can claim as a business expense the cost of the repairs. Report all the money you received from the parent as income and then claim the repair expense on Form 8829, line 19.

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