Hello, i just filed my taxes. I have deducted a loss (theft) from my home. I realize I accidentally clicked “hurricane harvey” instead of “other”. Any issues I will face?

[enathan281]

There are significant differences in the tax treatment of hurricane Harvey losses and other casualty losses. First congress removed the 10% of AGI threshold for hurricane Harvey losses. That means you took too much if your wrongly selected hurricane Harvey losses. Second congress changed the limitation on hurricane Harvey losses to those in excess of $500 not $100 which caused you to incorrectly limit your deduction. Also hurricane Harvey deductions are in addition to any standard deduction. This is not true for most other casualty losses.  Finally I believe TurboTax is doing the hurricane Harvey losses incorrectly in that they are double counting by including the loss as an itemized deduction and also including part of it as a capital loss and carrying forward losses that have already been taken in the current year. I believe an amended return is in order for you.