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Old 03-23-2009, 01:10 AM
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Hurrican Ike Casualty Loss Question

I have a question on how to claim a deduction for casualty losses due to Hurricane Ike. The damage to my home was $5104.12 and after our insurance deductible we received $3158.12. What part of this, if any, can I deduct on my 2008 tax return? Also, how do I find the cash basis or the fair market value of my home?

I appreciate any help on this matter, as I am very confused about IRS form 4684! Thank you in advance!



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