Yes, you have to upgrade to Deluxe in order to itemize deductions on Schedule A and/or report casualty losses on from 4684. ***See note below as this deduction has been suspended for most situations.
FOR TAX YEARS 2018-2025
The deduction for personal casualty or theft losses has been suspended (eliminated) through tax year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.
FOR TAX YEAR 2017 AND BEFORE
You can deduct uninsured losses exceeding $100 due to fire, theft, or natural disaster if your total loss amounts to more than 10% of your AGI.
In TurboTax, jump to the entry area for casualty loss:
- Open your return. (To do this, sign in to TurboTax and open or continue your return.)
- Search for casualty loss and select the Jump to link in the search results.
- On the Damaged or stolen screen, select Yes.
- Answer the interview questions describing your event.
When you complete the event and reach the Property Summary screen, you can enter any additional property losses by selecting the Add a Property button.
[Edited 03/18/20]
