Is $10,000 insurance deductible I paid on a homeowner’s claim tax deductible?

[oanhb03]

My kitchen pipes burst during severe freeze. I filed homeowners insurance claim. Is the $10,000 policy deductible I paid tax deductible?

[DoninGA · Accepted solution]

Sorry, no.  The cost of repairs made to a personal residence, not used as a rental or in a business, are not deductible on a federal tax return.

[KrisD15 · Accepted solution]

Additionally, insurance premiums and insurance deductibles are not tax deductible. 

@oanhb03 

[oanhb03]

Thank you.  Are investment advisory expenses tax deductible?

[SusanY1]

NO, investment advisory fees on personal accounts are not currently deductible on your federal return.