How to report house lost in fire

[Mila]

can i deduct fire lost

[PattiF]

No, you can not deduct fire loss if this was your personal home that was lost in the fire.

In December 2017, Congress passed the largest tax reform bill in over 30 years. Included in the bill was the suspension (repeal) of several federal deductions for tax years 2018–2025.

The deduction for personal casualty or theft losses has been repealed in tax years 2018–2025, unless the loss occurred in a federally-declared disaster area.

Previously, uninsured losses exceeding $100 due to fire, theft, or natural disaster could be deducted if the total loss amount exceeded 10% of the AGI, regardless of location.

We are sorry for the loss of your house.