re: Flood victim tax deductions

Go find IRS publication 584 and form 4684. You basically figure your value before flood, value after flood, and what you were paid. You have to do this for every item. As a general example if you had a total loss and your home was worth 75k prior to flood and 20k after flood you would have a 50k loss. If you received and money from insurance or FEMA you would deduct it from your 50k. At least that's the way I understand it.