https://ttlc.intuit.com/community/taxes/discussion/personal-casualty-loss/01/3157628#M1165287 <P>I had a damage loss to my primary residence in September 2022 due to hurricane Ian.&nbsp; I didn’t settle the claim with my HO insurance company until December of 2023, and they did not issue payment to me until January of 2024.&nbsp;</P><P>The rough #s are:</P><P>$90k in losses, I paid for out of pocket.</P><P>$13k deductible. $77k settlement ($25k paid to my attorney. $52k reimbursed to me by HO company.)</P><P>&nbsp;</P><UL><LI>Can I write off the $38k in losses that were not covered by insurance, including the deductible and attorneys fees I paid to resolve the claim? What about interest losses?&nbsp;</LI><LI>In what year can I deduct this loss?&nbsp; Should I do it for 2023 because that’s when the loss was realized and the agreement was finalized, or can I wait until the 2024 season because that’s when I will be partially reimbursed? &nbsp;2024 will benefit me since my AGI will be lower than in 2023.</LI></UL> Tue, 10 Feb 2026 08:53:08 GMT Ysocirrus 2026-02-10T08:53:08Z https://ttlc.intuit.com/community/taxes/discussion/personal-casualty-loss/01/3157628#M1165287 <P>I had a damage loss to my primary residence in September 2022 due to hurricane Ian.&nbsp; I didn’t settle the claim with my HO insurance company until December of 2023, and they did not issue payment to me until January of 2024.&nbsp;</P><P>The rough #s are:</P><P>$90k in losses, I paid for out of pocket.</P><P>$13k deductible. $77k settlement ($25k paid to my attorney. $52k reimbursed to me by HO company.)</P><P>&nbsp;</P><UL><LI>Can I write off the $38k in losses that were not covered by insurance, including the deductible and attorneys fees I paid to resolve the claim? What about interest losses?&nbsp;</LI><LI>In what year can I deduct this loss?&nbsp; Should I do it for 2023 because that’s when the loss was realized and the agreement was finalized, or can I wait until the 2024 season because that’s when I will be partially reimbursed? &nbsp;2024 will benefit me since my AGI will be lower than in 2023.</LI></UL> Tue, 10 Feb 2026 08:53:08 GMT https://ttlc.intuit.com/community/taxes/discussion/personal-casualty-loss/01/3157628#M1165287 Ysocirrus 2026-02-10T08:53:08Z