PUB 547 snippet
Cost of cleaning up or making repairs.
The cost of repairing damaged property isn’t part of a casualty loss. Neither is the cost of cleaning up after a casualty. But you can use the cost of cleaning up or of making repairs after a casualty as a measure of the decrease in FMV if you meet all the following conditions.
• The repairs are actually made.
• The repairs are necessary to bring the property back to its condition before the casualty.
• The amount spent for repairs isn’t excessive.
• The repairs take care of the damage only.
• The value of the property after the repairs isn’t, due to the repairs, more than the value of the property before the casualty.
[I believe I am meeting all the requirements, although what is considered excessive? >10%, 20%, x% of property value?]
Landscaping.
The cost of restoring landscaping to its original condition after a casualty may indicate the decrease in FMV. You may be able to measure your loss by what you spend on the following.
• Removing destroyed or damaged trees and shrubs, minus any salvage you receive.
• Pruning and other measures taken to preserve damaged trees and shrubs.
• Replanting necessary to restore the property to its approximate value before the casualty.
[Given the above, it seems reasonable that I could calculate loss as the difference in FMV minus all repairs and/or repair estimates to bring equipment and landscaping back to near original state. Which brings me back to the earlier question of estimating FMV, it seems I'm stuck paying for an appraiser.]
