$176,000 hurricane damage. Only received $56,000.00. can I claim difference

[tagteam]

See https://www.irs.gov/taxtopics/tc515

You would ordinarily have to reduce your basis by the insurance reimbursement you received and would increase your basis by the cost to you of improvements made for personal use property.

[Mike9241]

If this was in a federally declared disaster area you could claim a casualty loss by filing form 4684

use section A for personal use property and section B for business property. The form is probably not available in the basic online 1040