How do you calculate "excess casualty losses"? I'm at a place where it saying to enter excess casualty losses incurred in 2017 under Income & Expenses.
In in a disaster qualified area and was affected by a Hurricane last year. I finished form 4684 but the the next page asked me about excess casualty loss I don't know how to determine this, since I just filled in the information for casualty loss
How do you calculate "excess casualty losses"? I'm at a place where it saying to enter excess casualty losses incurred in 2017 under Income & Expenses.
Excess casualty losses are losses you were not reimbursed for by insurance and had to pay 'out of pocket'.