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Deductions & credits
Yes it is possible to increase the standard deduction, on SCH-A, due to a qualified disaster. Publication 547 lists this and the steps to do so. Form 4684, line 15, is also involved and the sequence of steps is listed on page 16.
https://www.irs.gov/pub/irs-prior/p547--2022.pdf
Increased standard deduction reporting. If
you have a net qualified disaster loss on Form
4684, line 15, and you aren’t itemizing your deductions,
you can claim an increased standard
deduction using Schedule A
October 18, 2024
12:49 PM