Fire

[sbvol]

What is the name of your stateTN

I was left a house, but before it was probated it was burnt down by arson.. the insurance company would not pay. It was a total loss...$150,000.00..Can i deduct any of this or am I screwed?

 

[LdiJ]

What is the name of your stateTN

I was left a house, but before it was probated it was burnt down by arson.. the insurance company would not pay. It was a total loss...$150,000.00..Can i deduct any of this or am I screwed?

Have you hired an attorney to deal with the insurance company? Unless it can be proven that you were the arsonist they can't refuse the claim ultimately....unless someone was dumb enough to stop paying the premiums.

You would need to see a tax attorney on the issue of a casualty loss.