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Can I report a fine as a deduction?

Forum|Forum|3 years ago
February 23, 2023
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I had to pay my energy company for the repair of a damaged wire on my property. The person who handled my claim said I could write this off as a deduction. Is this true?

Best answer by MinhT1

No.

This repair cost in your home is not tax deductible.

If the repair was done on your business facility then it would be deductible as a business expense.

M

MinhT1Answer

No.

This repair cost in your home is not tax deductible.

If the repair was done on your business facility then it would be deductible as a business expense.

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K

kazi12Author

It wasn't a repair we requested. It was a penalty/fine. It was a claim against us.

V

Vanessa A

No. Repairs, fines, penalties, etc. are not deductible for personal property. Personal property expenses are not tax deductible other than mortgage interest and property taxes when you itemize your return.

If this was a business property, then yes, the repair fee/penalty from your energy company would be tax deductible.

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