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Business & farm
The loss occurred in 2024, even though you didn't have the numbers until 2025, so you would claim it on your 2024 or your 2023 return. For Hurricane Helene "Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. In this instance, the 2024 return normally filed next year), or the return for the prior year (the 2023 return filed this year)."
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9 hours ago
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