I reside in NY and suffered significant losses related to Hurricane IDA.
Regarding contents, I lost approximately $60k worth. My flood insurance policy did not have a contents coverage and my homeowner's company denied my claim. Is there anyway to claim my losses on my federal and state tax returns?
Related to my structure damage, the insurance company low balled me. As such, I had to pay about $50k out of my own pocket (HVAC, water heater, construction of 3 rooms). Is there anyway to write off my out-of-pocket expenses?
Any help is greatly appreciated!
