We were affected by hurricane Irma, an had over $3000 in damages. We did not make a claim and did not receive any reimbursement. Do we qualify for tax break?

[CathiM · Accepted solution]

Yes, you can report the losses on Schedule A under casualty losses.  You have to be able to itemize deductions instead of taking the standard deduction to claim these losses.

Deductible casualty losses can result from a variety of causes such as car accidents, earthquakes, floods, fire, hurricanes, or vandalism.

Casualties that are not deductible losses include progressive deterioration such as termite or moth damage. Also the loss of a personal belonging, like a ring that is dropped in the garbage disposal, is not deductible.

In TurboTax, jump to the entry area for casualty loss:

1. Open your return.
   (To do this, sign in to TurboTax and select the blue Take me to my return button.)
2. Search for "casualty loss" and then click the "Jump to" link in the search results.
3. On the Casualties and Thefts (or Stolen or Damaged Items) screen, select Yes.
4. Answer the interview questions describing your event.
5. When you complete the event and reach the Property Summary screen, you can enter any additional property losses by selecting the Add a Property button.

Related Information:

• What is Schedule A?