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Old 03-27-2007, 02:48 PM
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Join Date: Jan 2007
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Can I deduct repairs incurred due to flood on my tax return?

Dear Taxguru,

Nice going on the site! I came back after a month it's looking Great! Keep it up!

Now, for my question, I incurred substantial damage from flooding in 2006 and it cost me over $35,000 to fix my basement and replace my furniture. Of course, my insurance helped but there was a portion spent that was not reimbursed by my insurance company. The question is can I deduct expenses somewhere on the tax return? If so, could you please advise me where to deduct it!

Thanks for your help.....



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