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Get your taxes done using TurboTax
Are you trying to report a Casualty loss on Federal form 4684?
This TurboTax Help states:
One way to get help with your expenses if you were impacted by a natural disaster is to take the tax break for your casualty loss.
If your area was declared a federal disaster, you may be entitled to claim casualty losses as an itemized deduction on your tax return. A casualty loss is officially defined as “the damage, destruction or loss of your property from any sudden, unexpected or unusual event such as a flood, hurricane, tornado, fire, earthquake or even volcanic eruption.” The loss can be from a natural or man-made disaster.
To access Federal form 4684 follow these steps:
- Down the left side of the screen, click on Federal.
- At the top of the screen, click on Deductions & Credits.
- Scroll to the bottom of the page and click on Other Deductions and Credits.
- Click Start / Revisit to the right of Disasters, theft, and other property loss or damage.
- TurboTax will ask you questions and determine whether you qualify for the deduction.
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February 16, 2021
9:04 AM