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February 24, 2024
Question

If my home and everything I owned was lost to house fire, can I file that on my tax return?

  • February 24, 2024
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Employee
February 24, 2024

Prior to the enactment of the Tax Cuts and Jobs Act of 2017, a house fire would usually result in a deductible personal casualty loss for losses incurred that were not reimbursed by insurance, but the TCJA suspended casualty and theft losses for most taxpayers unless it was the result of a federally declared disaster, making many of these losses incurred before January 1, 2026, nondeductible.