We were hit HARD by a never seen before flash flood. We are NOT in a flood plain and in 30 years have NEVER had any water anywhere near us!!!! Lots of development across the street but of course it is not their fault even though they were doing road construction. Anyway, the cost so far is $11,000/
and we are not through yet and have at least $5,000 more in repairs and more than that in lost wages from work and from lost personal items.

Does anyone know if any of this is income tax deductable? We and one other couple were the only ones to flood. It will not be a disaster area declaration.

Looking for any help in maybe somehow off setting this cost! Advice? Help? Where do I turn for help? The city I live in could qualify for the most corrupt and ignorant in the nation. I called for over a week to have gravel moved

Ugh! Idk. . but call your homeowners. I'm in WA state and there is flooding here almost every year. In general, as far as I know, homowners' insurance doesn't cover you unless you have flood insurance (and, of course, the people that get flooded out here every couple of years, can't even get flood insurance.) But. . start there.

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

If you do not have insurance to cover it, yes it could be tax deductible on your taxes as a loss be sure to mention it to your tax professional next year, its not something a lot of them ask if you have an losses. I always ask, I know when our neighbor shot the firecracker through our roof and we had to pay more than the insurance we were able to take a portion off our taxes, the key thing is you must itemize. I am in Florida right now and all my tax books are at home in Va and when tax season ends I tend to shut down on taxes so cant remember exactly how its done, but I know it can be done.

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Grammie to Trinity Lorayne Jean Keens Born June 9, 2011 Loving my awesome guitar picking 100% Country Boy boyfriend Kenny !
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I believe it is tax deductible. I know when our home was broken into, of course we had insurance to cover it, but I remember when we filled out our income taxes that year, there was a portion that mentioned losses. I believe we put the deductible in there that wasn't covered by the insurance. So I would think if you don't have insurance to cover the flooding, you could take it off your income taxes.

Why not called H&R Block or some other accountant and ask them?

I'm sorry this has happened to you. It sounds overwhelming.

The proper way to deduct loss due to flood damage? - Yahoo! Answers

Flash flood damage--tax deductible? | Taste of Home Community

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The political system is broke and it's a joke.

We flooded 5 years ago. Yes you will be able to declare a "portion" of your losses on your taxes.. HOWEVER be prepared to be audited. I was... I went to the audit though with photo albums full of our losses and the auditor was so nice and apologetic.
Most insurance comapnies do NOT cover floods unless you have a separate rider or are insured theough the National Flood Insurance Program.. and if you rent.. You REALLY are S O L.

Good luck to you!!

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Be careful what you wish for.....

of all the bankruptcies, why, oh why, can't this be one company who goes! They deserve it.
Voo-doo anyone?

Is it possible that the water was due to a malfunctioning sump pump or a sink or toilet in the basement? Our insurance company covered us under those circumstances.