@vitorio5170 wrote:
Net qualified disaster loss- $9500
standard deduction claimed with qualified disaster loss - $25,100
Toral - $34,600.
Which is the standard deduction $25.100 or $34,600?
Please let me know!!!
You are NOT reporting the Standard Deduction on the Form 1040 Line 12a, you are reporting the Deduction from Schedule A on Line 12a which is the amount of the disaster loss plus the amount of the Standard Deduction for your filing status.
From IRS Form 4684, Casualties and Thefts on page 3 - https://www.irs.gov/pub/irs-pdf/i4684.pdfpage=3
Increased standard deduction reporting. If you have a net qualified disaster loss and aren’t itemizing your deductions, you can claim an increased standard deduction using Schedule A (Form 1040) or Schedule A (Form 1040-NR), by doing the following.
1. Enter the amount from Form 4684, line 15, on the dotted line next to line 16 on Schedule A (Form 1040), or line 7 of Schedule A (Form 1040-NR), and the description, “Net Qualified Disaster Loss.”
2. Also, enter on the dotted line next to line 16 of Schedule A (Form 1040) or line 7 of Schedule A (Form 1040-NR), your standard deduction amount and the description, “Standard Deduction Claimed With Qualified
Disaster Loss.”
3. Combine these two amounts and enter the total in the entry space on line 16 of Schedule A (Form 1040), or line 7 of Schedule A (Form 1040-NR), and on Form 1040, 1040-SR, or 1040-NR, line 12a.
