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Updated about 3 years ago on .
Car accident tax deductible?
So yesterday at 6am I got the call from my tenant that the hot water pipe at the water heater was squirting everywhere. I ended up repairing it myself but I was on the way to get a new faucet aerator (since I broke the cheap plastic aerator trying to clean the pipe thread sealant accumulated from the pipe repair) when I was T-boned by a guy with no insurance. My truck is totalled. My insurance will probably low ball me on replacement cost. Is there any chance that the out of pocket cost I have to pay is tax deductible since I was working on rental property when it happened?