personel property loose

Mar 06, 2007 2 Replies

I had a storage building broken into on a piece of property I own. The homeowner insurance only paid out $5,000 on a $30,000 dollar loss. They used excuses like depreciation, no coverage on certain items due to being used for personel use instead of farm use. Can I take this loss off my 2006 taxes and what form do I use?




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Start with form 4684 and then go to Schedule A.

Y`ou might want to refer this to the Misc.Legal.Moderated group to determine whether you have recourse against the insurance company. Many of them are low-balling claims.

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