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sportsterdiva
New Member

Our rental house was destroyed in a fire...is there any deduction for our loss? If so, where do I include this info on our taxes?

 
1 Best answer

Accepted Solutions
LindaA
Level 10

Our rental house was destroyed in a fire...is there any deduction for our loss? If so, where do I include this info on our taxes?

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

View solution in original post

1 Reply
LindaA
Level 10

Our rental house was destroyed in a fire...is there any deduction for our loss? If so, where do I include this info on our taxes?

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

View solution in original post

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