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CLAIMING THE LOSS FROM A NATURAL DISASTER (FLOOD)

I have prepared my tax return using Home & Business and it looks like the system automatically selected standard deduction for me.  I answered the question that yes I was impacted by a natural disaster....however, it gives me no options to enter my expenses from that.  How can I claim that loss which is more that the standard deduction on my taxes.

 

I know the form is 4684 and Schedule A, line 16...but how do I get to these forms if turbo tax has determined I don't need them.

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VictoriaD75
Expert Alumni

CLAIMING THE LOSS FROM A NATURAL DISASTER (FLOOD)

Personal casualty and theft losses of an individual sustained in a tax year beginning after 2017 are deductible only to the extent they're attributable to a federally declared disaster. The loss deduction is subject to the $100 per casualty and 10% of your adjusted gross income (AGI) limitations.

 

To enter or review in TurboTax:

  • From the Federal menu, click on Deductions & Credits
  • Expand the menu at the bottom of the list for Other Deductions and Credits
  • Click Start/Revisit next to Disasters, theft, and other property loss or damage
  • Review the information on the screens that follow

IRS Form 4684

 

About Casualty Deduction

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