Amend 2022 return

[Highflight]

I paid $5000 out-of-pocket expenses to replace my garage door due to hurricane Ian damage… my hurricane deductible on my insurance policy is $14,000 so I made no claim…

I did not itemize deductions on my 2022 tax form plus the deduction for property damage has to exceed 10% of your AGI (which the $5000 did not exceed the 10%)

The new tax law that was just passed concerning qualified hurricane losses,allows you to go back and amend your 2022 tax return and deduct the $5000 for hurricane Ian damage even though you didn’t use any itemized deductions and even though it did not exceed 10% of your AGI….

what I need to know is whether TurboTax has made the necessary changes to the 2022 software to allow this to be done and how do I go about and do it

[AmyC]

TurboTax has to wait on the federal forms to be updated. We know the retroactive law will be using the same as 2020 instructions that show to increase the standard deduction by the allowed loss. You need to file 1040x, 4684 and any other forms affected by the change due to increased deduction. If you are using the desktop software, you can make changes in the Forms mode.