topic Qualified Disasters for 2018 in Get your taxes done using TurboTax

Qualified Disasters for 2018

curiousmarylander — Sun, 10 Feb 2019 08:43:28 GMT

Hello,

I am using TurboTax for 2018 and I want to know if I can deduct the cost or get a credit for damage that was done to my home during a Nor'easter in MD in March 2018. Insurance did not cover the entire cost. The governor declared a state of emergency. I borrowed from 401K to pay for repairs and I am not 59 1/2. The only disasters are listed are disaster from 2017. I am trying to avoid the tax penalty. Is there a salary limit? If so, what is it? Thanks.

Re: Qualified Disasters for 2018

NCperson — Sun, 10 Feb 2019 12:41:31 GMT

was it a federally declared disaster?

https://www.irs.gov/newsroom/tax-relief-in-disaster-situations

Re: Qualified Disasters for 2018

curiousmarylander — Sun, 10 Feb 2019 15:28:24 GMT

Thanks for the link. Per the link, no. It was declared a state emergency. Will this count on the state return? Thanks.

Re: Qualified Disasters for 2018

NCperson — Sun, 10 Feb 2019 16:03:40 GMT

I would trust TT to prompt you with questions if it was.....