Can I make a casualty deduction of the difference between what the insurance company paid for my totaled car and what it actually cost me to get the car back on the road?

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Can I make a casualty deduction of the difference between what the insurance company paid for my totaled car and what it actually cost me to get the car back on the road?

Unfortunately, the only casualty deductions allowed any more are those in Presidentially declared disaster areas. These deductions were eliminted with 2018 Tax Cuts and Jobs Act (TCJA).

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Can I make a casualty deduction of the difference between what the insurance company paid for my totaled car and what it actually cost me to get the car back on the road?

Unfortunately, the only casualty deductions allowed any more are those in Presidentially declared disaster areas. These deductions were eliminted with 2018 Tax Cuts and Jobs Act (TCJA).