Why doesn't turbo tax have Form 4684 disaster area for Texas Winter Storm 2021

Forum|Forum|5 years ago
February 24, 2021
1 reply
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ColeenD3

Level 15

You will file this form on your 2021 tax return, not 2020.

jrwildingAuthor

Level 2

You are incorrect: Look it up under casualty losses, glad you don't do my taxes!

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. See Publication 547 for details.

DoninGA

Level 15

@jrwilding wrote:

You are incorrect: Look it up under casualty losses, glad you don't do my taxes!

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. See Publication 547 for details.

IRS website - https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims

Affected taxpayers claiming the disaster loss on a 2020 return should put the Disaster Designation, "Texas – Severe Winter Storms," in bold letters at the top of the form. Be sure to include the disaster declaration number, FEMA 4586, on any return. See Publication 547 for details.