Can You Deduct Home Insurance On Rental Property?
- 37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaHome insurance is an expense of holding property for lease. The premium for the policy would be deductible on your schedule C. Incidentally, the type of policy is important. If you only have a landlord interest in property you only need a “fire policy.” The homeowner’s policy covers things for which you are not responsible so there isn’t a need to buy insurance to protect it, such as tenant’s contents, and primary liability if someone is injured on the property.Answered on May 19, 2014flag this answer
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