Our property was severely damaged by hurricane Ian and not covered by insurance. Although we have a general estimate of the damage, due to the difficulty in getting estimates and/or work done as a result of all contractors being too busy, we expect we will discover additional damage not found in 2022. In fact most contractors will not even provide estimates for 6 to 8 months.
My question is: We can estimate the losses (casualty losses and capital losses) for our 2022 taxes, however it is likely that once work is able to begin more damages will be discovered. How do I deduct damages caused by Hurricane Ian (2022) that were not discovered until mid to late 2023?
