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posted Jun 6, 2019 5:53:39 AM

Deduct money spent to prevent flooding? We have filed multiple claims, this was to protect the house.

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Level 5
Jun 6, 2019 5:53:40 AM

Unfortunately, there is no federal tax deduction for money spent to prevent flooding.  However, if you what you did was a permanent improvement to your home, you can add it to the cost basis to reduce potential capital gains when you later sell the property.