xmasbaby0
Level 15
Level 15

Deductions & credits

@ron6612 The article you referenced does not talk about casualty or theft losses.  It is talking about miscellaneous itemized deductions that were subject to the 2% of AGI threshold prior to the new tax laws.

 

Casualty and theft deductions--prior to the tax reform laws, were subject to a threshold of the amount over 10% of AGI, less $100.  Theft losses were not treated as "Miscellaneous" itemized deductions.

 

 

Intuit
 
 
 

How are my taxes affected by the coronavirus (COVID-19) pandemic?

SOLVED•by TurboTax•3564•Updated 1 week ago

If you're looking for info on stimulus payments, go here instead.

The federal tax deadline for all taxpayers, including those out of the country, was extended to July 15, 2020.

  • Federal tax payments, including first- and second-quarter estimated payments for 2020, were also deferred, interest and penalty-free, until July 15.
  • In addition, the deadline for 2019 contributions to your IRA was extended to July 15.

Check with your state to see what they're doing with regards to the coronavirus pandemic.

Does the coronavirus outbreak qualify as a natural disaster?

The IRS has not declared the pandemic as a qualifying natural disaster.

 
 
 
If you still need help with this, please contact customer support.
 

To call TurboTax customer support

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

They are available from 5 a.m. to 5 p.m. Pacific time  Monday-Friday

 

 

@Critter     @tagteam   @rjs  @bluedeb

 

For the user's sake, I would love to be wrong about this.  Any thoughts?

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎October 28, 2020 11:20 AM
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