- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I had an insurance claim and I paid 20% of the insurance claim to the public adjuster. Is this amount tax deductible? If yes, where can I enter the amount?
Topics:
June 1, 2019
10:26 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If the insurance claim is for your business, then the fee paid to the adjuster is deductible as a business expense under Legal and professional fees.
If the insurance claim is for something for your personal use (house or car), then the fee is not deductible.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 1, 2019
10:26 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
reply was in 2019, has this been updated so that it can be deducted as a fee or miscellanious?
April 10, 2024
3:12 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
It depends. If this was business expense for your self employment then you can deduct the expense if it was necessary to produce or keep income in your business. If this was a personal claim there is no deduction for your expense.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
April 10, 2024
3:59 PM
915 Views