Tampa Palms, Westchase, Carrollwood and Tampa Bay Real Estate News From Jeanne Prigitano

Chinese Drywall was installed in thousands of homes across the nation, including here in the Tampa Bay area. Many problems have been recorded including foul odor and corrosion of pipes and wiring. Removing the drywall and or repairing the corrosive results can cost in the hundreds of thousands of dollars.

Well, there is a little help out there. Manufactures are being sued but that may take a long time to resolve. Now the IRS says that any repairs to homes or appliances can be treated as casualty losses. Amended returns can be filed to claim the deduction.

This may be small relief but it is a step forward and acknowledgment of a real problem that can impact lawsuits.