The diesel engine went out and I had to get a complete rebuilt one for my motorhome. I used investment money to pay what the extended warranty didn't cover. Can any of the out of pocket cost be used as deductible since it is my only residence?
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If this qualifies as "sudden and unexpected", you might qualify for a casualty and theft loss deduction.
Here's what TurboTax has to say about Casualty and Theft losses:
https://ttlc.intuit.com/replies/3301959
If this is due to normal wear and tear, then it would not be deductible.
If this qualifies as "sudden and unexpected", you might qualify for a casualty and theft loss deduction.
Here's what TurboTax has to say about Casualty and Theft losses:
https://ttlc.intuit.com/replies/3301959
If this is due to normal wear and tear, then it would not be deductible.
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