How to amend 2017 return to claim loss from barn fire?

[DC714]

It just occurred to me while filing 2018 taxes that I didn't include in my 2017 return the loss of my barn due to a fire that year.  Since my little farm is just a hobby and not a business, it didn't enter into my return at all.  But it appears to me now that perhaps it could have.  The insurance adjuster assessed reconstruction costs for the barn at over $65K.  I received only $40K from insurance.  Is this a loss that could have benefited my 2017 return?  Can I revise that return now to do so?  How would I go about doing so?  Thanks!

[MargaretL]

Yes, you can amend and deduct the casualty losses on your 2017 tax return. Since such casualty loss is part of your itemized deductions, depending on your situation, it may or may not make a difference. 

So please amend your tax return and see. If it does affect your refund/tax due, mail it in. If it doesn't, then there's no need to amend. 

Note: Once you start the amendment process, please follow the steps below:

1. Federal Taxes
2. Deductions & Credits
3. Scroll down to Other Deductions and Credits
4. Select Casualties and Thefts 

This IRS topic explains details of casualty losses applicable to the 2017 tax year. (just FYI - it's no longer allowed for 2018 unless the loss is due to a natural disaster and you live in a federally declared disaster area)