Homeowners Struck By Disaster May Get A Tax Break

By: Channel 6 News Email
By: Channel 6 News Email

Homeowners who have faced disaster could get some help at tax time.

The losses from disasters like floods and other events are deductible.

But you have to meet certain conditions to meet the standards of the IRS.

The loss has to come from an unexpected event that was sudden or unusual.

And the damages cannot be covered by insurance.

Also, you must itemize.

There are other conditions to meet as well.

For more information, go to the IRS website at www.irs.gov.

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