I wanted to know if the deductible for Hurricane Irma is a deductible expense. I paid the deductible in 2018 once the work on my home was finished but not sure if I have to update my 2017 returns if it is considered a loss or it can be taken as a loss on my 2018 returns. I am in FL and the area I live in the eye of the hurricane went over so it was considered a disaster area at the time.
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yes you can. an example say loss $20,000 insurance pays $15,000 the difference our $5,000 deductible which would becoame the dedcution. the same holds true on deductible for vehicles.
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