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Employee
February 1, 2019
Question

Is insurance deductable deductable?

  • February 1, 2019
  • 1 reply
  • 0 views

Our car was totaled in an accident. Can we deduct the insurance deductible?

    1 reply

    MargaretL
    Employee
    February 1, 2019

    No, you cannot, unfortunately. The deduction for personal casualty or theft loss has been eliminated for the 2018 tax year and through the tax year 2025 (unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster. Please read here for details.