Can I deduct flood damage loss on my tax return?
(Revised November 2012)
Generally, flood damage is deductible as a casualty loss, and as such it is subject to a number of limitations.
If you are still able to claim a casualty loss on your tax return, you should obtain proof of the amount of the loss - often you will need a written appraisal. If the flood damage occurs in a 'Federally designated disaster area' the rules are generally much more liberal.
If you were affected by the recent east coash hurriccane, you need to contact your tax advisor for the details. You can contact us by using the link on the left side of this page.FAQ Menu
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