Deducting 2017 Property Losses from Your Taxes
Deducting 2017 Property Losses from Your Taxes
Hurricanes, wildfires, tornadoes, floods, earthquakes, winter storms, and other events often cause widespread damage to homes and other types of property. If you’ve suffered property loss as the result of a natural or man-made disaster in 2017, you may be able to claim a casualty loss deduction on your federal income tax return.