Business & farm

were the livestock and therefore the barn used in a business you had?  if not,  sorry no deduction. if yes, then you figure your casualty loss to business property by completing Section B of Form 4684, Casualties and Thefts. Turbotax will carry the loss to Form 4797, Sales of Business Property. a federal disaster declaration is not necessary for a business casualty loss.

 

the same would apply to your home but only to the business portion.

 

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