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jackietaylor1983
New Member

Can't get passed theft/stolen page I reported losing my home in hurricane and its saying to put $0 for fmv I keep trying it won't take it?

 
1 Reply
LindaA
Level 10

Can't get passed theft/stolen page I reported losing my home in hurricane and its saying to put $0 for fmv I keep trying it won't take it?

To determine the amount of your casualty loss, enter the fair market value (FMV) of your house before the hurricane damage. (This will be a non-zero value.) Then enter 0 for the FMV after the loss if your house was destroyed by the hurricane. (Click the screenshot below to enlarge it for reference.) When you continue through the casualty loss interview, you won't see this amount listed in the Property Summary. However, if you have enough deductions to itemize, TurboTax will include your casualty loss on Schedule A. Note that casualty loss(es) from the hurricane must be reduced by $100, and furthermore, only your total casualty losses in excess of 10% of your adjusted gross income (AGI) is deductible. 


Please see the FAQ below for more information (and be sure to click See entire answer). 

https://ttlc.intuit.com/replies/3301959

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