Considerations

• Homeowners can deduct amounts paid to fix structural damage, such as electrical systems and framing, interior damage, such as damaged flooring, and appliances. Homeowners can write off even minor home damage, repaired out-of-pocket, if such damage results from an unexpected event. To determine the amount of loss due to property damage, a homeowner must know the value of the property both before and after the disaster, according to website Daily Finance.