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?
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New Member

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

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New Member

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

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

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New Member

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

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

View solution in original post

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