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Business & farm
Unless your loss was declared to be the result of a federally declared disaster, your mold remediation expenses are not deductible. Per the instructions for SCH A line 15 at https://www.irs.gov/pub/irs-pdf/i1040sca.pdf on page A-13:
You can only deduct personal casualty and theft losses resulting from a fed-erally declared disaster to the extent that:
1.The amount of each separate casualty or theft loss is more than $100, and
2.The total amount of all losses during the year (reduced by the $100 limit discussed in (1)) is more than 10% of the amount on Form 1040 or 1040-SR, line 8b
May 3, 2020
1:28 PM
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