For the people that had to bugged out from the Hurricane(s) as they are order out for safety. Is that cost tax deductible? Or is that an insurance problem?
I don't know as I have only lived through three good size earthquakes and one volcano eruption.
Quote from: walkstall on September 10, 2017, 10:15:39 AM
For the people that had to bugged out from the Hurricane(s) as they are order out for safety. Is that cost tax deductible? Or is that an insurance problem?
I don't know as I have only lived through three good size earthquakes and one volcano eruption.
There is a deduction for unreimbursed casualty losses. There may be an annual limit, but I believe those can be carried over to another year. A CPA would have to answer that question. Insurance payments are not taxable.