Are Hurricane losses added to the standard deduction?

jc_penny · ‎February 7, 2021

I got a new roof on my house thanks to Hurricane Sally. The deductible was about $7000 for a net out-of-pocket. I do not have enough other costs to itemize so TT assigns the standard deduction. But TT then adds the loss from a Qualified Disaster on top of that resulting line 12 of Form 1040 including the standard deduction plus the loss. Is this correct? Seems weird.

MayaD · ‎February 7, 2021

Yes, that's correct.

As part of tax reform relief for those affected by natural disasters, you can now deduct your total loss (minus $500 and any amount covered by insurance) along with your usual Standard Deduction

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View solution in original post

jc_penny · ‎February 7, 2021

Lucky me.... I was just going to ignore Schedule A inputs but my state (Alabama) doesn't have as big a standard deduction as the Federal law so I was filling in the blanks and then, "SHAZAM!"

I love Turbo Tax!

Are Hurricane losses added to the standard deduction?

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