Solved: I had a flood insurance loss on Dec 20th it is still on going. do I write the loss off in 2016 or 2017?

I had a flood insurance loss on Dec 20th it is still on going. do I write the loss off in 2016 or 2017?

Do I just write off my deductable in 2016

posted

If you already know the financial impact (losses minus insurance reimbursement) claim it in 2016. Otherwise, claim everything next year.

If you already know the financial impact (losses minus insurance reimbursement) claim it in 2016. Otherwise, claim everything next year.

I had a flood insurance loss on Dec 20th it is still on going. do I write the loss off in 2016 or 2017?