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March 27, 2021
Question

Can I deduct wildfire damage

  • March 27, 2021
  • 2 replies
  • 6 views

My home was impacted in 2020 by this CA wildfire:

https://www.fema.gov/disaster/5380

 

The insurance paid for most of it, apart from a $2500 deductible which was our out-of-pocket for repairs. Is this something I can deduct on my tax return? I don't know if this is considered a "major" disaster.

2 replies

macuser_22
Alumni - Champ
Alumni - Champ
March 27, 2021
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
March 27, 2021

I don't mean to sound rude, but if I could read the tax code myself I wouldn't be here asking questions...

Is there a TLDR for my specific situation? Deductible or not?