Yes, you can deduct the loss on your tax return and report the description with lump-sum amount for the loss, excluding reimbursement from the Insurance, if any. https://ttlc.intuit.com/replies/5963562
How to enter Casualty Loss in TurboTax Online
- Start at the main Tax Home page
- Click on Take me to my return
- Click on the top right Search icon, then type in casualty loss, it will direct you to the page
- Select the answer relates to your situation (attached screen page provided to guide you through the interview pages). Go through the pages and complete the questions
