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Our home had some water damage in 2024. The issue isn't fixed yet, we are still in negotiations with insurance. Is this something that can help with tax deductions?
Water damage was caused by an appliance breaking in the middle of the night. Insurance has covered some expenses, but we have had to go out of pocket to cover full amounts for mitigation. We are still negotiating fair payout. We are putting off hiring a contractor until we have funds from the insurer to do so.
If the damage can be used as a deductible, how can we go about doing so?
March 15, 2025
7:00 PM