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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 01-29-2014, 10:05 AM
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Default 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?
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Old 01-29-2014, 12:52 PM
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Originally Posted by Second Home View Post
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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