Hi. Can I claim the $500 deductible I paid the Insurance company for a home flood?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Hi. Can I claim the $500 deductible I paid the Insurance company for a home flood?

Probably not. Because of the limitations on casualty losses you would have no deduction if your adjusted gross income is over only $4,000.

View solution in original post

1 Reply

Hi. Can I claim the $500 deductible I paid the Insurance company for a home flood?

Probably not. Because of the limitations on casualty losses you would have no deduction if your adjusted gross income is over only $4,000.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post