does the hurricane deductible on homeowners insurance count toward disaster relief claim?

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The deductible on your homeowners insurance for hurricane damage in a federally declared disaster area doesn't normally directly count toward your disaster relief claim for tax purposes. When you claim a casualty loss on your taxes due to a federally declared disaster, you need to calculate the total loss and then subtract any insurance reimbursements you received. The deductible amount you paid out-of-pocket is part of your total loss, but it doesn't get separately deducted again

For more detailed information, you can refer to IRS Publication 547

To claim casualty losses in TurboTax due to hurricane damage follow these steps:

1. Open TurboTax and navigate to your tax return.
2. Go to the search bar at the top right of the screen.
3. Type "Casualty loss" in the search bar.
4. Click the "Jump to" link that appears in the search results
5. Select Yes on the Did you have anything damaged or stolen in 2024? screen.
6. Answer the questions about your event, entering your Description in the following format: State, Disaster (for example, California, Wildfires).

Entering Your Casualty Loss

1. Enter the details of the damaged or lost property.
2. Calculate the loss: Determine the decrease in the fair market value of the property due to the flood.
3. Subtract any reimbursements: Enter the amount reimbursed by your insurance or other sources. The remaining amount is your deductible loss.
4. Complete IRS Form 4684: TurboTax will guide you through filling out this form

Additional Resources

• IRS Publication 547: This publication provides detailed information on reporting disaster area losses. You can review it here
• TurboTax Help Article: For more detailed instructions, refer to this TurboTax support article