We used retirement money on a 1099R for home repair. Is there anywhere to enter that info?

maura8070 — Thu, 06 Jun 2019 13:24:16 GMT

If the repairs you made were for maintenance/remodeling,...

KatherineC — Thu, 06 Jun 2019 13:24:17 GMT

If the repairs you made were for maintenance/remodeling, then no, that is not a deductible amount.

If you are asking if you can claim the repairs as an exception for the early withdrawal penalty, that is not one of the exceptions that is allowed unless you have losses due to the hurricanes (in a federally declared disaster area).

If you suffered a general casualty loss, you can enter the amounts you paid that were not reimbursed by insurance, less a $100 deduction per casualty event. This will only help you if you itemize your deductions.

If your damage was due to the 2016/2017 hurricanes, special treatment is available. These losses will be subject to a $500 deduction per casualty.

If you itemize your deductions, you will be able to deduct the loss on Line 28 as a miscellaneous deduction not subject to the 2% limitation.
If you do not itemize, your casualty loss amount will be added to your standard deduction and reflected on Line 40 of your Form 1040.

Please continue reading for more information on casualty losses in a federally declared disaster area. You can click on any information that is in blue print - they are links to further information.

https://ttlc.intuit.com/replies/6469344

topic We used retirement money on a 1099R for home repair. Is there anywhere to enter that info? in Retirement tax questions

We used retirement money on a 1099R for home repair. Is there anywhere to enter that info?

If the repairs you made were for maintenance/remodeling,...