Category Archives: Repairs

Landlord Costs

  Today TaxMama hears from Eric in the TaxQuips Forum, who is a new landlord. “During periods of vacancy (in between tenants), are mortgage and utility bills tax deductible at all? Also are the costs of replacement furnace filters and pest control items, etc. purchased and used by me (the landlord) deductible as operating expenses?”  

Cyber Defenders Saves the Day

We returned Tuesday afternoon to find parts of the house infested with ants. And one of my computers infected with something, or it got messed up during the brown-outs when temps hit 113 here in the Valley. The computer kept shutting down every few minutes for no apparent reason.  So, I lost the week trying […]

Torn Down by Accident

Today TaxMama hears from Sandra in Texas, with this unusual situation. “I owned two rental properties; but one was accidentally torn down by the city. It had damage due to hurricane Ike. Can I take the value of this property off my taxes? Can I take it as a loss?”

Tenant Mess

Today TaxMama hears from Anne in New Jersey with this problem. “My tenant was evicted on 6/30/09. She left owing $4,000 in back rent – and she vandalized the townhouse. So far, I have spent $13,000 in repairs (contractor fees and supplies) to bring the townhouse into rentable condition. Can I claim the $13,000 on […]

Mudslide

Today we hear from Don in Idaho who’d like to know, “Are the expenses paid out to repair damage caused by a mudslide deductible? The repairs include fixing the damage to the house, yard and the cost of a massive retaining wall to prevent a like event from recurring.”

Staying Afloat

Today TaxMama hears from Shirley in Florida, who has this problem. “In 2002 a boat I’ve owned since 1986 ran aground.I had used it as a business to run charters. My insurance paid me $10,000 to have it towed to dry dock repairs. The depreciated value at the time of the accident was $3,000. Extensive […]

Energy Credits

Today TaxMama hears from Penny in Wichita, Kansas, who has an excellent question. “If someone wants to take advantage of the tax credits being offered for energy efficient projects at home (like replacing a furnace or AC unit), how do they do that? “

Wilma Assessment Be Deductible

Today TaxMama hears from the Mike in Florida, who tells us, “We received an assessment from our condo association. This assessment was to repair damage caused by hurricane Wilma when it hit Florida. Can we report this assessment as a casualty loss on our tax return? If we can, what schedules should we use to […]

Capital Renovations

Today TaxMama hears from Claudette in New York, who asks. “What is the best way to put together a schedule of capital improvement expenses to offset the proceeds of the sale, if the house has gone through many renovations over the years. “

Invoices a la Mush

Today TaxMama hears from Dallas in, where else – Texas, who relates, “When I have problems, I have big ones. The other day it rained 6” and it flooded my shop. And of course I had all of last year’s invoices and receipts in a box on the floor. Over half of them are unreadable. […]