[Marilla]

:mad: I recently experienced a fire in my rental property (duplex) which was caused by my renter. The place is now inhabitable. Can I somehow deduct the loss of rent during the time that this place will need to be redone.

[ScottGem]

I've moved this to taxes since its really a tax question. But I believe this would be deductible as a causalty loss.

[Mobea]

The loss of rental income is not deductible if you are on a cash basis.
Per IRS Publication 527
"If business or income–producing property, such as rental property, is stolen or completely destroyed or lost because of a casualty, the amount of your loss is your adjusted basis in the property minus any salvage value and insurance or other reimbursement you receive or expect to receive. Adjusted basis is usually your cost, increased or decreased by various events such as improvements or depreciation. A casualty loss may be claimed for the loss of property minus any reimbursements from insurance, salvage value and prior depreciation. "

When restoration is made to the property, it should be capitalized and depreciated. This will add back to the cost basis of the property. It is not considered a repair.

[AtlantaTaxExpert]

Mobea covers it well and answers all of the questions.

Lost rent is NOT deductible.