Bought a house in PA in 2018. House burned down 2 months later, still 2018.

roguestories — Wed, 05 Jun 2019 03:00:30 GMT

We are still rebuilding. Is there anywhere in tax prep to reflect this?

CASUALTY LOSS It is difficult to claim a casualty loss be...

Kendra — Wed, 05 Jun 2019 03:00:31 GMT

CASUALTY LOSS

It is difficult to claim a casualty loss because you have to meet a tough threshold. Only the amount of a casualty loss that is OVER 10% of your adjusted gross income can be counted toward your itemized deductions, and even then you must subtract $100 from that amount. If your loss was covered by insurance, it is very unlikely that the amount of your deductible would be enough to count as a deduction. If you want to enter your casualty loss, go to the Federal>Deductions and Credits> Other Deductions and Credits>Casualties and Thefts.

topic Bought a house in PA in 2018. House burned down 2 months later, still 2018. in Deductions & credits

Bought a house in PA in 2018. House burned down 2 months later, still 2018.

CASUALTY LOSS It is difficult to claim a casualty loss be...