I was in the 2020 Texas Winter Storm and have read that I qualify for a disaster relief claim on my taxes, how do I do that?

Forum|Forum|5 years ago
March 15, 2021
17 replies
487 views

I just want to know how to add it to my return, my husband and I couldn't work and didn't receive paychecks, I read that this doesn't have to be an itemized deduction

TurboTax Free Edition Online

Best answer by HelenC12

The Texas severe winter storm is reported as a casualty loss. Casualty losses are an itemized deduction and the full amount (less the first $500) are on Schedule A, line 15.

In TurboTax you will follow these steps to report the 2021 storm damage on your 2020 return

Federal
Deductions and Credits
See All Tax Breaks
Find the one with Disaster, Casualty, Thefts - it is worded a little different on different versions of the software
Add your casualty or theft event
Put the description - Texas Winter Storm Damage
Personal Property
Federally declared MAJOR disaster
FEMA disaster code EM-3554-TX
Continue with the onscreen interview until complete.

Source MaryM428

HelenC12Answer

Level 15

The Texas severe winter storm is reported as a casualty loss. Casualty losses are an itemized deduction and the full amount (less the first $500) are on Schedule A, line 15.

In TurboTax you will follow these steps to report the 2021 storm damage on your 2020 return

Federal
Deductions and Credits
See All Tax Breaks
Find the one with Disaster, Casualty, Thefts - it is worded a little different on different versions of the software
Add your casualty or theft event
Put the description - Texas Winter Storm Damage
Personal Property
Federally declared MAJOR disaster
FEMA disaster code EM-3554-TX
Continue with the onscreen interview until complete.

Source MaryM428

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

moby52

Level 2

Thanks

Opus 17

Level 15

If you are in a federally declared disaster area, that does not mean free money.

It means that you gain an automatic extension on the deadline to file your tax return, and it means that you may be eligible to deduct losses from the storm that were not covered by insurance. However, the casultly loss deduction on your tax return has high barriers to actually getting any tax benefit, the loss must be more than 10% of your income before it starts to become deductible.

Other than those 2 things, checking the box for a disaster area doesn't change your tax return.