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Deductions & credits
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.
Here is how you can claim the deduction on your return:
- Login to your account.
- Select Federal from the left menu
- Go to Deductions and Credits.
- Scroll down to Other deductions and Credits.
- Scroll down to Casualties and Theft
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March 1, 2021
7:26 AM