Deductions & credits


@wkassin wrote:

I actually entered it after I posted the message, and Form 4684 on Turbotax is applying a $100 reduction (line 11), and a 10% AGI reduction (line 17). Is that right? I've downloaded all the updates.


I have not tested this section of the program this year, but I believe there is a question about "Is this a qualified disaster?"  Make sure you answer yes (if it is a qualified disaster.  I see the answer from the other expert but also see the IRS links I provided).  Otherwise the program will use the default rules.   (And in fact, if I remember correctly, losses that are not from a qualified disaster are not deductible at all, so even though the program is filling out the form, it may not appear in your final return.  I admit that I need to refresh myself on the rules in these cases.)