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Level 2
May 7, 2023 4:45 PM UTC
Question

Disaster Deduction

House was flooded (Federal declared disaster).  Had to go rent elsewhere for 6 mos.  HOI and flood insurance didn't cover "loss of use".  Are rental payments deductible?

3 replies

Level 15
May 7, 2023 4:51 PM UTC

Rental payments are not deductible on the federal return but some states have a rental credit. 

dataportAuthor
Level 2
May 7, 2023 4:57 PM UTC

So it's not considered a 'loss' directly related to the disaster?

Level 15
May 7, 2023 5:00 PM UTC

A loss is a loss of property you own.