JohnW152
Expert Alumni

Deductions & credits

You can't claim these expenses as a deduction on Schedule A.  As MarilynG1 points out above, cleanup expenses can only be used to reduce the fair market value (FMV) of your property. 

 

According to Publication 551 (12/2022), Basis of Assets:

FMV is the price at which property would change hands between a buyer and a seller, neither having to buy or sell, and both having reasonable knowledge of all necessary facts.

 

See also Casualty Losses in the IRS's Topic no. 515, Casualty, disaster, and theft losses.

@worrallern