Is an IRA loss tax deductible?

Answer Loss from an IRA account can be tax deductible, but there some stipulations. You must first withdraw your balances on all of your IRA accounts that are similar to the one that obtained the loss. Fo... Read More »

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Is uninsured theft loss tax deductible?

You can deduct losses from theft even if you did not have insurance. The amount of your loss equals the smaller of fair market value or your cost basis in the stolen items. You must itemize your de... Read More »

Is the deductible on a condo-owners association insurance policy considered a loss assessment?

It often is considered that and often a person's policy on their personal condo will extend to pay up to $500 of the Association's deductible. Could be less than $500 depending on how much the Ass... Read More »

Is it possible to double coverage for cargo insurance If a loss then get the 2 insurance carriers to each pay 50 percent if crate goes missing Friend took big loss last year from shipping loss?

2,055 miles taking this route: Take I-10 EAST from Tucson to I-25 NORTH to ALBUQUERQUE at EXIT 144 in Las Cruces, NEW MEXICO.Take I-25 NORTH to I-40 EAST to SANTA ROSA at EXIT 226A in Albuquerque.T... Read More »

If you have an accident before the deductible is lowered but the claim is not filed until after which deductible applies?

Answer The deductible at the time of the accident not the time of claim.