GeorgeM Posted April 10, 2013 Report Posted April 10, 2013 I have a client that FEMA made a determination that their home was in a flood zone, and was forced to purchase flood insurance. I believe that the cost of the flood insurance is deductible, but are there any other credits or expenses that are deductible? Quote
Lynn EA USTCP in Louisiana Posted April 10, 2013 Report Posted April 10, 2013 Is this rental property? If yes, then the flood insurance is deductible as a schedule E deduction. If it is his personal residence, sorry, no deduction for flood insurance. 1 Quote
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