Deductible Insurance Expenses

You can deduct most types of insurance that deal with your rental property, like Homeowner’s Insurance, Casualty Insurance, and Private Mortgage Insurance.

Other common expenses include coverage for fire, theft, flood, and liability.

If you have employees, you can even deduct the cost of their health and workers’ compensation insurance.

Just be sure that the expense is ordinary and necessary for managing your investment. If you hire a family member to be your employee, writing off their insurance may be possible, but it may also be a reason for an audit.

This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Deductible Insurance Expenses is brought to you by SimplifyEm Pay Rent Online and Property Management Software

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