You'll need to sign in or create an account to connect with an expert.
The formation of the mold may qualify as a casualty loss. A casualty is an event identifiable as damaging to property, sudden, unexpected, and unusual in nature.
If the formation of mold is a sudden, unexpected, unusual and the result of an identifiable event that caused damage to your property, it would qualify as a casualty and you may be entitled to deduct the loss for the resulting property damage as a casualty loss.
You are not entitled to a casualty loss deduction if the mold damage occurred as a result of insufficient repairs to or maintenance of your property.
If you enter this cost as a deduction on your return, you will have to provide further documentation to justify this expense as a casualty loss.
However, any eligible/qualified medical expenses incurred as a result of the event at your property should be deductible if you itemize on Schedule A. Qualified medical expenses include:
Go to Search (top right), then type the exact phrase 'medical expenses, sch a' into Ask your question or search TurboTax. Jump to medical expenses, sch a from the results.
The insurance paid and they wouldn't have if I were negligent, a broken water line is not carelessness. The mold had formed behind the walls where it could not be seen.
I was locked out until my home could pass a 'mold free' air test, which I had to let them do , before the insurance would pay what they agreed to.
Exactly what do I have to provide turbotax and IRS to prove my claim?
I am not claiming illness. My home was padlocked, no one
could enter without special clothing and breathing equipment!
Insurance paid roughly $20,000 and I paid the remainder of approx. $18,000.
What documents do I need to provide turbo tax and IRS to prove my claim. I want to gather them chronically before I file?
Unfortunately, you're no longer allowed to deduct such a loss. The answers above are obsolete.
The deduction for personal casualty or theft losses has been suspended (eliminated) through Tax Year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.
Please see the TurboTax Help articles "What if I have property that was lost or damaged (a casualty loss)?" and “Can I deduct damage to my home?” for more information.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
maglib
Level 10
gfluttrell-yahoo
New Member
pjrandlkr
New Member