Hail storm damage

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To deduct a casualty loss such as hail damage, you must itemize your deductions on Schedule A. The amount of your deduction is limited to the amount of the loss that exceeds 10% of your Adjusted Gross Income after a $100 deductible

As an example if you had $10,000  worth of unreimbursed damage , and your Adjusted Gross Income is $50,000, your tax benefit would be as follows.

After deducting $100, you are left with a $9,900 expense which is $4,900 above 10% of your Adjusted Gross Income of $5,000.

Your deduction would therefore be $4,900,

To report a Casualty or Theft loss 

·         Type casualty loss in the box, top right of your screen,  click the magnifying glass

·         Click the jump to casualty loss link in the search results

·         Follow to prompts and online instructions