I spent $10,900 on tree removal, debris removal, and stump grinding due to Hurricane Ian. This is for my primary home, not rental. Can I claim a casualty loss?

sandor_h496 · ‎February 23, 2023

HelenC12 · ‎February 23, 2023

Yes, if your casualty was a direct result of a natural disaster, and you live in a federally declared disaster area, you may be able to take a tax deduction for the value of the property that's not covered by your insurance.

Please see What if I have property that was lost or damages (a casualty loss)? for additional information and how to enter it in TurboTax.

Note: If you're not able to claim your casualty loss, keep the records so when you sell, you'll be able to offset a portion or all of the gain (if any) on the sale of your personal residence.

Related information: IRS Topic 515 - Casualty, Disaster and Theft Losses (Including Federally Declared Disaster Areas)

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HelenC12 · ‎February 23, 2023

Yes, if your casualty was a direct result of a natural disaster, and you live in a federally declared disaster area, you may be able to take a tax deduction for the value of the property that's not covered by your insurance.

Please see What if I have property that was lost or damages (a casualty loss)? for additional information and how to enter it in TurboTax.

Note: If you're not able to claim your casualty loss, keep the records so when you sell, you'll be able to offset a portion or all of the gain (if any) on the sale of your personal residence.

Related information: IRS Topic 515 - Casualty, Disaster and Theft Losses (Including Federally Declared Disaster Areas)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I spent $10,900 on tree removal, debris removal, and stump grinding due to Hurricane Ian. This is for my primary home, not rental. Can I claim a casualty loss?