devestation by storm

[nonboatr]

What is the name of your state?va
my property was undermined by Isabel hurricane. I am waterfront with riprap but that water was about 4 feet over the seawall. I would like to know if I can get tax relief. It will be about 30k to fix. The property is worth about 1/2 mil. I tried with tax office and they said waterfront is waterfront so pay up. Then I thought I could do the devastation thing on the income taxes. Is that something I could do and what are the real steps?

 

[abezon]

You can deduct a casualty loss on Schedule A (Form 4684). Your deduction is the decrease in fair market value minus any insurance reimbursement, minus $100, minus 10% of your AGI. See Pub 584 for details.

 

[nonboatr]

value determination

va
Is this an true appraisal or is it a write up by a real estate agent?