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Do Hurricane Florence victims qualify for the $500 casualty loss haircut and take the standard deduction as opposed to being required to itemize with the 10% floor?
I suffered substantial damage from Hurricane Florence. The 2018 casualty loss form provides for a $500 casualty loss haircut and allows a standard deduction as opposed to being required to itemize with the 10% floor. Hurricane Irma & Maria occurred before 2018. The $500 provision is still in tack in 2018. This is the 3rd time I asked this question. Please send me an answer.
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‎June 1, 2019
9:11 PM