Claiming an insurance deductible

[paulfgrady]

Last year my condo building had a fire and we lost electricity for 3 months. There was no damage to our unit but we had to move out. Myinsurance covered my hotel bill under the loss of use section of the policy but there was a $1000 deductible that I had to pay. Can I claim this and if so where do I put it on my return

[xmasbaby0 · Accepted solution]

No.  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.