First of all, this may be too complicated for the forum - so here goes.
2017, we were in a Federally declared Disaster Area.
We filed in 2018 the fed approved 2 years previous to the Disaster year (2017) on our taxes for Casualty Loss....as instructed by TT.
BUT, we did not really get a lot of $ in 2017 (in fact NONE) from the ins company.
However in 2018, we did get $ for this BUT used it all up on getting contractors, etc.
How do we claim this? First how do we claim the ins $? Secondly we are not allowed to claim all that work done because of the Fed Law which states you get to claim it 2 years PRIOR to your fed declared disaster.
Can anyone help? TY.
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I wanted to ans my own question
Add up the expenses then subtract the ins $ rc'd
This is in case anyone is wondering how to deal with it. GL everyone.
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