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January 26, 2024
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If I had a fire at my house can I deduct my deductible that I paid?

  • January 26, 2024
  • 1 reply
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Had a fire caused by a lightning strike at my house. Had to pay my homeowners insurance deductible out of pocket for the repairs. Is that deductible on my taxes?
Best answer by xmasbaby0

That is dreadful---but sorry, no.  The tax laws that changed for 2018 and beyond eliminated deducting casualty losses on a federal tax return unless you are in a federal disaster area and were affected by the disaster----like a wildfire, flood, hurricane, etc.   Lightning striking your house is not deductible.

1 reply

xmasbaby0Answer
Employee
January 26, 2024

That is dreadful---but sorry, no.  The tax laws that changed for 2018 and beyond eliminated deducting casualty losses on a federal tax return unless you are in a federal disaster area and were affected by the disaster----like a wildfire, flood, hurricane, etc.   Lightning striking your house is not deductible.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**