topic Natural Disaster - After Feb. 2020? in Deductions & credits

Natural Disaster - After Feb. 2020?

huffmacm — Wed, 10 Mar 2021 16:06:51 GMT

Hello - we live in an area affected by a natural disaster in September 2020. The prompt in TT asks, "were you affected by a natural disaster in 2020 *after Feb. 19, 2020*" Is this a typo on behalf of TurboTax?

Re: Natural Disaster - After Feb. 2020?

Opus 17 — Wed, 10 Mar 2021 16:21:48 GMT

No. There is a provision in the budget reconciliation act passed at the end of 2020 (that also contained the second stimulus, and many other tax changes) that disasters that were declared between Feb 19 and December 31, 2020 are treated slightly differently than disasters that were declared before Feb 19.

Re: Natural Disaster - After Feb. 2020?

tim2601 — Thu, 29 Apr 2021 01:14:50 GMT

My daughter lost over $4000 of belongings and was displaced by the tornado in Nashville in March 2020. It was classified and natural disaster. how can shew deduct this?

Re: Natural Disaster - After Feb. 2020?

DaveF1006 — Thu, 29 Apr 2021 22:37:08 GMT

Please perform the following steps.

Log into or open Turbo Tax
Go to federal>deductions and credits>other deductions
Go to causalities and thefts.
As you answer questions, there will be a screen that says Causality or Theft Event
Here you will list the type, date, and if the disaster qualifies as a federal declared major disaster.
Next you will need to designate what the Fema Disaster Code is. Choices are DM or EM.
Once you make this choice, it will ask for the full disaster code. You must have this information handy to complete this part of the return.
Then finish out the return regarding description of the property, cost,etc.