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Deductions & credits
If the hurricane is a federally declared disaster, you can claim the damage not covered by insurance (your deductible) as a disaster loss. This deduction is an itemized deduction on Schedule A.
The first $100 of loss is not tax-deductible, but the remainder of the loss is tax-deductible to the extent that it exceeds 10% of your adjusted gross income.
Please read this TurboTax blog for more information.
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‎February 22, 2023
6:57 AM