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Old 12-29-2005, 07:46 PM
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Join Date: Dec 2005
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Tax deduction from car accident

What is the name of your state?California
My car was involved in a hit-and-run accident. They never caught the person who did it, and the repairs were covered by my car insurance. My insurance deductible was $500. Can I declare this as a tax deduction?
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Old 12-29-2005, 08:02 PM
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Join Date: Aug 2002
Location: Washington
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You'd have to take it as a casualty loss. Given the amounts you have to exceed to deduct anything, you won't make it with the $500 deductible.
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