Casualty Loss Repairs Expenditures.

[Justin Fox]

So from what I've read, you deduct the loss AND any/all cost of repairs made due to the casualty.  Where do I put the cost of repairs deduction for my rentals at?  On Schedule E as an Other Expense with a unique description, or do I just group it up with my Repairs line item?

I know for personal losses you put the casualty loss on Form 4684.  Would I fill one of these out for each rental property affected too?  Or with rental property do I simply just deduct all my repairs on Schedule E and not use Form 4684?

HRBlock's casualty loss form is being updated for Harvey and will not be ready until ~02/16/2018.  Supposedly the IRS has made it easier for hurricane victims to calculate the casualty loss, but we'll see when the form is done.

For my personal home, I received a damage assessment of $160,000 from the SBA.
I received a $5,000 payout from insurance for sewer backup and $24,900 from FEMA.
So far, I've spent ~$12,600 on repairs.
The FMV of the home was 210,000 via bank appraisal to drop PMI.

So is this how I would calculate the casualty loss for the real property (personal)?

Loss after insurance & FEMA & repairs: $117,500 (I think you have to add repairs back to basis.)

Less $100:                                                     $117,400  (Can't deduct first $100 of loss because reasons.)

New Loss:                                                      $117,400

Less 10% AGI                                                $111,100  -$6,400 (Can only deduct anything > 10% of AGI.)

Casualty deduction                                     $111,100

I'm guessing for the rentals I would just deduct the cost of repairs only and not even worry about the Form 4684?  I say this because they are completely repaired now and are about to get re-listed.  So I would think there would be $0 casualty loss if they are back to original condition.

Also, one more question.  On the part where I'm deducting 10% f my AGI, can I leave out the taxable income from my rental properties since I'm calculating the loss for my home?

Thanks,

Justin