http://www.sacramentowaterdamageteam.com/flood-damage/deduct-loss-flood-damage 24 Hour Emergency Response Fri, 25 Sep 2009 13:43:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.sacramentowaterdamageteam.com/flood-damage/deduct-loss-flood-damage/comment-page-1#comment-56 cthbz Fri, 25 Sep 2009 13:14:59 +0000 http://www.sacramentowaterdamageteam.com/flood-damage/the-proper-way-to-deduct-loss-due-to-flood-damage#comment-56 It would be a Schedule A deduction (Line 19-2005 form). See also Form 4684. It is then only the amount of loss over 10% of your AGI. It's not a great deduction, but anything helps. If you use Schedule A take advantage of it. See irs.gov for forms and instructions. ACTUAL $$$ LOSS is the key.<br><b>References : </b><br>Self employed tax preparer. Just The Numbers, LLC. It would be a Schedule A deduction (Line 19-2005 form). See also Form 4684. It is then only the amount of loss over 10% of your AGI. It’s not a great deduction, but anything helps. If you use Schedule A take advantage of it. See irs.gov for forms and instructions. ACTUAL $$$ LOSS is the key.
References :
Self employed tax preparer. Just The Numbers, LLC.

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