Loss due to Fire in 2020

in April of 2020 a fire burned down my garage. It cost me $27,000 to rebuild, but the insurance company only paid me $18,000. Can I claim the $9,000 difference? And if so, how and where do I do that? (I live in Michigan if that matters.)

posted

Unfortunately, due to the tax law changes in 2018, you can no longer claim a personal casualty loss, unless you live in a Federally Declared Disaster Area.

Click this link for more info on Casualty Losses.

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