Can I claim insurance deductible on homeowners insurance claim

[dsbrueggem]

Paid a 2K deductible on a whirlpool bathtub leak resulting in an 11K repair. Also paid for a new (non whirlpool) tub $1600.00

[SweetieJean]

Was it a slow leak?

[Carl]

Just work it through the Casualty and Thefts section under the Deductions and Credits tab (when you get to it). You'll see how it works then. Basically, you'll claim the entire amount of the "loss", then you'll be asked for any insurance/reimbursement payouts you received, which will offset your loss. If you do it right, your "allowed loss" will amount to your deductible.

[SweetieJean]

I don't think a slow leak meets the Casualty definition.

[SweetieJean]

<a rel="nofollow" target="_blank" href="https://www.irs.gov/taxtopics/tc515.html">https://www.irs.gov/taxtopics/tc515.html</a>

[Carl]

But with that amount, and depending on the damage, it "may" qualify as a property improvement. I doubt it. But it's not impossible.

[jerry2000 · Accepted solution]

You can work through the Casualty loss worksheet in Itemized deductions, but you will not likely get any tax benefit. Whey? After you have determined the amount of the loss, and assume that it is the amount of your deductible, then you must first reduce the loss by $100, and then you must further reduce the loss by 10% of your adjusted gross income. So for a $2000 deductible, it is first reduced to $1900, then if your Adjusted Gross Income is more than $19,000, your deductible loss is zero. It is probably not worth your time to go through the calculations. The cost of the replacement tub does not figure in at all. Why? Because repairs and maintenance to your personal residence are not ever deductible.

[GenX68]

@jerry2000 Intuit needs to add this to TurboTax.  Definitely time saving information.  Nice job!

[xmasbaby0]

@GenX68 This thread is very old.  It migrated over when the old Answer Xchange changed to Real Money Talk.  Some very old replies came over with 2019 dates--and they are really older. 

That information about a casualty loss/insurance deductibles, etc.   is no longer relevant since the tax laws changed for 2018 and beyond.  You cannot claim a casualty loss on a federal return now unless you are in a federally declared disaster area.   So if that was something you are concerned about for your current return--you will not be able to deduct a casualty or theft loss now.

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