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Employee
March 8, 2021
Question

My Rental Insurance covered my flood damage. Repaired the walls and replaced the carpet. Logic would say they will still depreciate, so can I depreciate them?

  • March 8, 2021
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1 reply

March 8, 2021

The repairs are supposed to restore the assets to their state before the damage. And the assets can continue to be depreciated as usual.

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