@BobRay wrote:
Thanks Amy,
The program did update itself when I launched it. I marked the checkbox indicating the Ian was a qualified major disaster on the amended return, and the refund went up by more than $2,000. I'm not sure I could tell whether that means the program was updated to handle my situation or not.
Now, if it would just carry the new taxable income values to my State Return, I'd be a happy camper, but I don't see any way to make that happen, even though the TT help system says it will happen automatically.
Unless your state also changed their law regarding disaster calculations, you may not be entitled to a state recalculation. It depends on whether the state is "conforming" (follows federal law regarding calculation of taxable income) or differs.
To amend 2022, you must have the program installed on your own computer. Switch to forms mode or print a draft of your return and look at schedule A, you should see the casualty loss on line 15, and if you use the standard deduction, you will see it on line 16.
The other problem is that even though Turbotax contains the calculations for a "qualified" disaster loss, the only losses that were qualified (before the signing of the 2024 law) occurred in 2021 or earlier, so there were no qualified losses in 2022. You have to put the FEMA number of the disaster on form 4684, so the IRS will also have to update their computers internally to process a 2022, 2023 or 2024 FEMA number under the new rules. I have not heard one way or the other if the IRS is ready for this yet.
