Lost Rent Reimbursed By Insurance

[sami]

If taxpayer got a reimbursed on lost of rental income during repair of his unit should I include that on schedule E as rental income?

[Anarchrist]

yes
9876543

[terryats]

Yes if the payment was for lost rent only. If it covered the repairs then only report the difference between lost rent, and repairs as rental income

[spanel]

Yes if the payment was for lost rent only. If it covered the repairs then only report the difference between lost rent, and repairs as rental income

I'm not sure I agree.

Repairs reimbursement either go in income or offset or credit the repair account.

Chris

[terryats]

You were asking about where to include insurance reimbursements for lost rent, and I said you include it as rental income, only the amount for lost rent. You weren't asking about repairs