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Deductions & credits
Hurricanes in FL that have been declared disaster events, you can claim disaster losses, but you cannot claim rental payments. The loss is the amount that is equal to the devaluation in your property. Other expenses that are not related to the devaluation of your property are not part of casualty losses for personal property.
- The adjusted basis of your property, or
- The decrease in fair market value of your property as a result of the casualty
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‎April 16, 2025
5:51 AM