An unisured driver hit me how do i report property loss ?

Forum|Forum|5 years ago
September 5, 2020
2 replies
0 views

No text available

TurboTax Free Edition Online

Best answer by

contact your insurance company and file a claim. unless your car is used in your business even if you do file a claim your deductible is not deductible. if you are insured and it is a business asset but you don't file a claim only your deductible would be a business loss. if you are uninsured and it isn't a business asset your loss is no longer deductible. that would mean filing suit against the other driver would be your only recourse.

A

Anonymous

Answer

contact your insurance company and file a claim. unless your car is used in your business even if you do file a claim your deductible is not deductible. if you are insured and it is a business asset but you don't file a claim only your deductible would be a business loss. if you are uninsured and it isn't a business asset your loss is no longer deductible. that would mean filing suit against the other driver would be your only recourse.

Carl11_2

Employee

Personal losses are not deductible. Not a penny.

However, if your vehicle had any business use, you *MIGHT* be able to claim a loss equal to the business use percentage, on SCH C. If your own vehicle was not insured, then nothing is deductible.

This does not negate your requirement file a claim with your own insurance company though.