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Deductions & credits
Yes. Generally, a loss that is “attributable to” a federally declared disaster will also “occur in” a disaster area, but the IRS has said that the loss does not have to occur “in” a disaster area to be deductible. Since declarations of federally declared disasters are issued on a state-wide basis, the loss must occur in the state receiving the federal disaster declaration.
March 16, 2022
2:29 PM