The Texas severe winter storm is reported as a casualty loss. Casualty losses are an itemized deduction and the full amount (less the first $500) are on Schedule A, line 15.
In TurboTax you will follow these steps to report the 2021 storm damage on your 2020 return
- Federal
- Deductions and Credits
- See All Tax Breaks
- Find the one with Disaster, Casualty, Thefts - it is worded a little different on different versions of the software
- Add your casualty or theft event
- Put the description - Texas Winter Storm Damage
- Personal Property
- Federally declared MAJOR disaster
- FEMA disaster code EM-3554-TX
- Continue with the onscreen interview until complete.
Source MaryM428
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
