Loss of Home due to Fire

globug666 · ‎February 21, 2023

My house burned down in 2022. I received the insurance money, but hav not yet rebuilt. Is that income taxable on my return.

xmasbaby0 · ‎February 21, 2023

How dreadful. Unless you were in a federal disaster area--such as a wildfire area---- the casualty loss is not deductible on your federal return, per the tax laws that went into effect for 2018 and beyond.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Mike9241 · ‎February 21, 2023

You don't report the insurance proceeds.

Expert does your taxes

Do it yourself

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Loss of Home due to Fire