Recent storm passage rolled a large maple out of the ground and onto the lawn. (It took out power, phone, cable, but those all were the expenses of the respective utilities). Anyhow it still cost me money simply to have the tree cut up, removed and the stump ground down in the ground. Insurance companies in coastal areas have set very high deduction limits for wind damage, so they are no help. Can I deduct this storm damage, even though it didn't damage the house?
Storm-damage deduction?
Sep 21, 2008
3 Replies
Yes, as a casualty loss. Note the limits.
The government's deductible is pretty high too :). Only the amount over 10% plus $100 of your AGI is deductible.
It was the "government's limits" I was referring to.
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