A tax deduction may be available for people who suffered damage from Hurricane Ida and aren't getting help from their insurance.
A casualty loss can be taken as an itemized deduction. But in 2017, the standard deduction was increased to the point that it may be more than a taxpayer's total itemized deductions.
IRS Form 4684 may still allow the write-off of an amount equal to 90% of the difference between an insurer's damage appraisal and a contractor's estimate.
It may be a couple of months before the IRS issues clear guidance as to whether it will allow that option this year.
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