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March 7, 2023
Question

Home Fire Loss

  • March 7, 2023
  • 1 reply
  • 0 views

My home was destroyed by fire in 2021. I filed my taxes and did not claim the loss that was not covered by the insurance. I have many things that were not covered and not paid in 2022. Can I still claim the loss?

 

I read about the 2017 tax bill and the suspension of several deductions. Does this mean I CANNOT claim the loss?

    1 reply

    DoninGA
    Employee
    March 7, 2023

    Casualty and Theft losses are not deductible on a federal tax return unless you are in a federally declared disaster area.