Thank you so much for your help!
Since reimbursed in 2022 that would be the year of deduction despite paying some bills in 2023. So this is saying that yes, I can use the $17,000 that I paid on 1/3/2023 and add that to the other $11,000 in damages that I paid in 2022 and claim a loss of $8,000 after deducting the amount of insurance in paid to me in 2022? The roof was actually done with repairs on Dec 31, but with the holidays I wrote the check for the next day the banks were open.
I am reading all about the "Adjusted basis" and the "Decline in fair market value" that I need to use to determine my losses. I have actual receipts of the repairs so I would assume I could use my receipts showing my actual cost was over and above the amount of the insurance check?
