Deducting Disaster Losses on Your Tax Return

[QUESTION]My house was damaged by Hurricane Florence, and I have a 2% deductible on my homeowners insurance, which is about $7,000. Will I be able to deduct the $7,000 on my tax return?

[ANSWER]Maybe, but the calculation is complicated and the laws changed this year. In the past, everyone could deduct unreimbursed casualty losses -- whether their home was damaged by a major for a list of eligible counties).