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Get your taxes done using TurboTax
No. You do not have to file Form 4684 is you are not claiming a loss, i.e. insurance did not cover 100%. Was there anything not covered? Car? Personal possessions? You can claim those.
Otherwise,
- Type casualty loss in Search in the upper right
- Select Jump to casualty loss
- On Casualty and Theft Summary, delete the tornado
Generally, you may deduct casualty and theft losses relating to your home, household items, and vehicles on your federal income tax return if the loss is caused by a federally declared disaster declared by the President. You may not deduct casualty and theft losses covered by insurance, unless you file a timely claim for reimbursement and you reduce the loss by the amount of any reimbursement or expected reimbursement.
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March 21, 2021
1:47 PM