Diminution of home value related to declared disaster

We were victims of Hurricane Idalia in August 2023. Prior to the hurricane our home appraised for $1.04 million. Had had another appraisal just 9 days after the storm. The post-hurricane appraisal was for $835,000. Can I claim the diminution of the home value on my taxes?

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Diminution of home value related to declared disaster

No, you can't claim the loss of value of any asset that you still own, and you can't claim a loss on your home even if you do sell it.

If the loss of value is due to storm damage, you may be able to claim a Casualty loss. Follow this link for more about that.

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