"Bill Brown" <wpbrown[at]longwood.edu> wrote:
- quote -

Thanks for your reply Bill. Insurance proceeds + zero
<GRIN> - but that is another story.

On schedule E does it matter if I simply place the entire
$10,000 under item 14 (repairs) OR item 18 (Other) and enter
a heading of my own such as "Repair from fire damage"?

Regards,
Joe

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joe wrote:

- quote -

Based on the facts you presented your loss = ($10,000 -
insurance proceeds) and is reported on Schedule E.

Regards,
Bill

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Last year I had a fire in a rental (two houses on one legal
lot). The fire dept estimated 30K in damage. Actual cost of
repairs under $10k.

Am I "missing anything" by simply writing this loss off as
an expense on Schedule E rather than the endless procedure
using form 4684?

The property is highly appreciated and is paid in full and
income exceeds all expenses for the year.

Thanks

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