@ladylake I've looked at form 4684 and instruction and Turbotax and its instructions and I have not figured out a way to enter the appropriate info. from 4684 instructions that concerns me as to the loss you can take on the rental portion
For a home you rented out or used for a business for which you aren't filing Schedule C. see section 280A(c)(5) to figure your deductible loss. Attach a statement showing your computation of the deductible loss. There is nothing like this in Turbotax.
*
I THINK this limits the deductible casualty loss attributable to the rental portion to the net rental income with any excess loss carried over.
*
Ian is not a Qualified Disaster Loss though a bill was introduced in the US House in March 2023. it has not yet been passed into law and one legislator only gives it a 5% chance of approval.
*
I would advise you to consult with a tax professional for this matter or wait to see if others have any other suggestions.
