On Jan 30, 2:39 pm, brianthi...[at]hotmail.com wrote:

- quote -

Look up "casualty loss". Your loss is the smaller of the change in
FMV or your cost basis (your cost price plus improvements) minus
insurance reimbursements, and you can only deduct the amount above 10%
plus $100 of your AGI. Was this a presidentially declared disaster
area?

http://www.taxalmanac.org/index.php/...d_Theft_Losses

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My house was destroyed by a tornado in April, and we have since had it
rebuilt with money from our homeowner's insurance. Are there any tax
implications associated with that? Any type of special deductions
that might apply?

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >