How do I account for my insurance deductible on a casualty loss deduction say for major storm damage?

rakmupusa — Thu, 06 Jun 2019 10:26:19 GMT

You don't account for it. If the insurance covered 100% o...

Coleen3 — Thu, 06 Jun 2019 10:26:20 GMT

You don't account for it. If the insurance covered 100% of the value, you have no claim. If the insurance covered 50% of the value, you have a loss of the other 50%. Your deductible is just that much less the insurance company paid.

topic How do I account for my insurance deductible on a casualty loss deduction say for major storm damage? in Deductions & credits

How do I account for my insurance deductible on a casualty loss deduction say for major storm damage?

You don't account for it. If the insurance covered 100% o...