On the theft and loss claim form, can I deduct the my insurance deductable that I paid to the contractor for repair? The insurance company paid the balance directly to the contractor.

[mbrown1]

Also, my right side rearview mirror was ripped of my car by flying debris on interstate. The cost for the repair was less than what I could file my with insurance. Can I deduct the cost of the repair?

[Coleen3 · Accepted solution]

Yes, the deductible is an amount that you pay and can therefore deduct. Unfortunately, there is a high threshold for amounts claimed on this form and very seldom does it benefit anyone.

[xmasbaby0]

It is difficult to claim a casualty loss because you have to meet a tough threshhold. Only the amount of a casualty loss that is OVER 10% of your adjusted gross income can be counted toward your itemized deductions, and even then you must subtract $100 from that amount.  If your loss was covered by insurance, it is very unlikely that the amount of your deductible would be enough to count as a deduction.  If you want to enter your casualty loss, go to the Federal>Deductions and Credits> Other Deductions and Credits>Casualties and Thefts.