Unless your loss occurred in a federally declared ...
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cadillacsrx
New Member

Form 4684 does not seem to carry onto Schedule A or past page 1. I am to report from line 18 which I assume is on Page 2 or 3. What am I doing wrong?

I suffered actual cost (after depreciation) flood damage totaling $20,041(est. ACV by Insurance Company) and was only reimbursed $15,000. The $4,959 difference is not carrying over to Schedule A.  What's wrong?

1 Reply
TerryA
Level 7

Form 4684 does not seem to carry onto Schedule A or past page 1. I am to report from line 18 which I assume is on Page 2 or 3. What am I doing wrong?

Unless your loss occurred in a federally declared disaster area and has a FEMA designation number, personal casualty losses are no longer deductible on your federal return.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

Some states do not conform to the new federal rules so for state purposes such non-FEMA losses can still be entered as "This event does not qualify as a disaster casualty". This loss will be ignored by the federal program unless there is also a casualty gain in the return whereupon the non-FEMA loss will offset the gain. A nonconforming TT/State program will pick up the loss.

My list of the nonconforming states is AL, AR, CA, HI, IA, MN, MO, and NY. So if you are going to prepare one of those state returns then it could benefit you to enter it into the federal program.


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