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We flooded,structural, contents and out door damage, 3 different deductibles totaling 30k. adjuster said we might be able to get a break? if so how do i go about that?
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This is the Casualty and Theft deduction. This deduction covers property that’s damaged as a result of a disaster, such as a storm, flood, fire, car accident, or similar event, and also covers stolen property. Property includes anything you own.
To enter this in TurboTax:
- Go to the "Federal Taxes" tab
- Click on "Deductions & Credit"
- Scroll down to "Other Deductions and Credits" and click on "show more" to the right of it
- Click "Start" next to "Casualties and Thefts" continue to follow the onscreen guide.
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