Solved: Used Cost Index Safe Harbor method to determine decrease in FMV due to Harvey IRS instructions require statement of method/table used How do I include this in Turbo Tax?

1 Best answer

Level 6

Jun 4, 2019 5:41:17 PM

You cannot e-file and include the statement using the TurboTax Online version. You will need to mail in your tax return. However, you can e-file and include the statement using the TurboTax Deluxe desktop version. To do so, view the return in Forms Mode. Select the Open Form button at the top. Then type Blank in the search bar. A blank form will generate and your statement can be written there.

The attached statement must state the specific Revenue Procedure you used to determine the amount of your casualty loss. Click this IRS link Instructions for Form 4684 for specific details on what to include in your statement. Scroll down to page 5.

You must include a statement with Form 4684, Casualties and Thefts, to use one of the IRS allowed Safe Harbor Methods for "determining the amount of your casualty and theft losses for your home and personal belongings."

Level 6

Jun 4, 2019 5:41:17 PM

New Member

Jun 4, 2019 5:41:19 PM

The IRS instructions say to leave Form 4684 lines 5 and 6 blank and then put the safe harbor calculation into line 7. The software will not allow me to do that, even if I go directly to the form 4684 instead of using the questions and answers or the worksheet. How can I get the program to allow me to fill in line 7 without lines 5 and 6?

Level 6

Jun 4, 2019 5:41:20 PM

@bforrestmazella You need to perform an override. Click this TurboTax FAQ for instructions:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3299946">https://ttlc.intuit.com/replies/3299946</a>

New Member

Jun 4, 2019 5:41:21 PM

If you over ride Line 5 & 6, you can not efile with TurboTax?? Is there any solution to this?

Level 6

Jun 4, 2019 5:41:24 PM

@gopal.kothari There is not a workaround. When a return includes an override, it will need to be mailed in.

Why sign in to the Community?

Used Cost Index Safe Harbor method to determine decrease in FMV due to Harvey IRS instructions require statement of method/table used How do I include this in Turbo Tax?