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Investors & landlords
Unfortunately, the tax laws that went into effect for 2018 and beyond say that you cannot deduct a casualty loss on your federal return, even though your insurance did not cover your entire loss. Sorry.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎November 17, 2019
3:15 PM