cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I had an insurance claim and I paid 20% of the insurance claim to the public adjuster. Is this amount tax deductible? If yes, where can I enter the amount?

 
1 Best answer

Accepted Solutions
Highlighted
Level 6

I had an insurance claim and I paid 20% of the insurance claim to the public adjuster. Is this amount tax deductible? If yes, where can I enter the amount?

If the insurance claim is for your business, then the fee paid to the adjuster is deductible as a business expense under Legal and professional fees.

If the insurance claim is for something for your personal use (house or car), then the fee is not deductible.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
Highlighted
Level 6

I had an insurance claim and I paid 20% of the insurance claim to the public adjuster. Is this amount tax deductible? If yes, where can I enter the amount?

If the insurance claim is for your business, then the fee paid to the adjuster is deductible as a business expense under Legal and professional fees.

If the insurance claim is for something for your personal use (house or car), then the fee is not deductible.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post