POST: tax deductible

Post: tax deductible
Posted by Neej on 3/09/08

For 2007, I had hail damage on my rental income property.

My insurance policy covered the repair of my roof but had
a $500 deductible (which I paid).

What is tax deductible?

A) the $500 insurance deductible
B) the entire cost of the roof repair (~6,000)
C) none

Can I deduct the correct above amount for 2007 or do I
have to depreciate it over 27.5 years?

Thanks

Posts on this thread, including this one

tax deductible, 3/09/08, by Neej.
Re: tax deductible, 7/05/08, by Frankie.

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