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Daycare and Taxes>Tornado Damage And Taxes
Grape Ape Mom 06:48 PM 03-21-2017
My house was in the path of a tornado in December 2015, and had some damage. Insurance paid for almost everything that was repaired, so I didn't plan to claim very many expenses for the repairs.

My first question is about the depreciation for the roof, gutters, windows, screens, fence, and carpet replaced in two bedrooms. Can I use the insurance valuation and date of actual repair/replacement to claim T/S% depreciation on these new items?

In the middle of our disaster, we also had to have our foundation repaired for about $8000. Is this deducted as a repair with T/S%?

Thank you!

April
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Tags:casualty, depreciation, taxes, tornado
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