home insurance warranty
I have a home warranty which essentially repair insurance – is that cost tax deductible?
I spent $400 on the yearly cost for my home warranty this year. Also, there was a $60 fee each time a technicians comes out to do a repair. Are these costs tax deductible?
(For those who don’t understand what a home warranty does, basically, it’s repair insurance for items in my house. It covers all my major appliances, plumbing, electrical, water heaters, sump pump, etc. If any of those breaks, I can call a technician, and they will come out and fix it – only $60 each time they come out.)
I don’t think I’m only prepaying for repairs. I’ve already had $4,000 worth of air conditioning replacements, so I’ve more than received my money’s worth.
Thank you everyone for your answers. Too bad i can’t claim the expense, but I’m grateful to have it! 
If this is your home, no deduction.
If this is rental property, it’s deductible.
Filed under Home Insurance by on Mar 23rd, 2010. 
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