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Is $10,000 insurance deductible I paid on a homeowner’s claim tax deductible?

My kitchen pipes burst during severe freeze. I filed homeowners insurance claim. Is the $10,000 policy deductible I paid tax deductible?

Best answer by DoninGA

Sorry, no. The cost of repairs made to a personal residence, not used as a rental or in a business, are not deductible on a federal tax return.

Employee

Sorry, no. The cost of repairs made to a personal residence, not used as a rental or in a business, are not deductible on a federal tax return.

Additionally, insurance premiums and insurance deductibles are not tax deductible.

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Thank you. Are investment advisory expenses tax deductible?

NO, investment advisory fees on personal accounts are not currently deductible on your federal return.

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