turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

jadelake
New Member

My rental house in Hawaii was affected by the volcanic eruption in 2018. It's value dropped a lot, but it is still usable. Can I deduct any of the lost value?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT
Expert Alumni

My rental house in Hawaii was affected by the volcanic eruption in 2018. It's value dropped a lot, but it is still usable. Can I deduct any of the lost value?

No, unfortunately you cannot deduct the decrease in market value of your rental property. This loss is an unrealized loss which will be realized only when you sell the property.

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question