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rakmupusa
New Member

How do I account for my insurance deductible on a casualty loss deduction say for major storm damage?

 
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1 Reply
Coleen3
Intuit Alumni

How do I account for my insurance deductible on a casualty loss deduction say for major storm damage?

 You don't account for it. If the insurance covered 100% of the value, you have no claim. If the insurance covered 50% of the value, you have a loss of the other 50%. Your deductible is just that much less the insurance company paid.

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