Yes, you may be able to claim a casualty loss for your rental property.
To enter information for the casualty in TurboTax:
- Continue working on your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click My Account (top right of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the search bar, type 4684.
- In the results box, highlight 4684, casualties and theft, then click GO.
- Follow the onscreen instructions to the conclusion of this section. Be sure to check Income-Producing Property when entering the casualty or theft. (Click the screenshot below for reference.)
Note: If using the TurboTax
CD/Download software, you'll use the Find function (instead of "My
Account") to search for the topic.
Please see the FAQ below for more information.
Casualty and Theft Losses https://ttlc.intuit.com/replies/3301959
