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#2
09-23-2008, 05:20 AM
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 Re: Storm-damage deduction? <removeps-groups[at]yahoo.com> wrote in message news:30637284-f24b-4385-8bcb-a7af226dbb98[at]b38g2000prf.googlegroups.com... - quote - > On Sep 21, 5:38 pm, "D. Stussy" <s...[at]bde-arc.ampr.org> wrote:
It was the "government's limits" I was referring to.> > "Roy Starrin" <star...[at]verizon.net> wrote in message > > > Can I deduct this storm damage, even though it didn't damage the > > > house? > > > 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. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#1
09-22-2008, 03:38 PM
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| Re: Storm-damage deduction? On Sep 21, 5:38 pm, "D. Stussy" <s...[at]bde-arc.ampr.org> wrote: - quote - > "Roy Starrin" <star...[at]verizon.net> wrote in message
The government's deductible is pretty high too > > Can I deduct this storm damage, even though it didn't damage the > > house? > Yes, as a casualty loss. Note the limits. . Only the amountover 10% plus $100 of your AGI is deductible. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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09-22-2008, 12:38 AM
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| Re: Storm-damage deduction? "Roy Starrin" <starrin[at]verizon.net> wrote in message news:ladcd41idu93tlj2fh087jjuorqobiu0pa[at]4ax.com... - quote - > Recent storm passage rolled a large maple out of the ground and onto
Yes, as a casualty loss. Note the limits.> 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? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
09-21-2008, 07:48 PM
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| Storm-damage deduction? 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? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| deduction, stormdamage |
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