turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

texpop
New Member

How do I carry forward part of my 2017 Harvey casualty loss to 2018 using Turbotax?

When I reduce my casualty loss by $150,000 in my 2017 return, my refund does not change at all.  Can I carry forward the $150,000 to my 2018 return?  Please explain how I will do that in my 2017 and 2018 returns using Turbotax.  Thank you.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

How do I carry forward part of my 2017 Harvey casualty loss to 2018 using Turbotax?

If your loss was caused by a disaster in a federally declared disaster area, a special rule allows you to claim your loss on either your return for 2017 (the year the casualty event occurred) or on an amended return for 2016.  This allows you to claim the deduction in the year when it does you the most tax-saving good.  You cannot "carry forward" your loss to a later year (e.g. 2018) unless you are unable to use it all up in two years.

Included below is a link on how to amend your 2016 return:

https://ttlc.intuit.com/questions/3061514-how-do-i-amend-a-2016-return-in-turbotax

 

View solution in original post

2 Replies

How do I carry forward part of my 2017 Harvey casualty loss to 2018 using Turbotax?

If your loss was caused by a disaster in a federally declared disaster area, a special rule allows you to claim your loss on either your return for 2017 (the year the casualty event occurred) or on an amended return for 2016.  This allows you to claim the deduction in the year when it does you the most tax-saving good.  You cannot "carry forward" your loss to a later year (e.g. 2018) unless you are unable to use it all up in two years.

Included below is a link on how to amend your 2016 return:

https://ttlc.intuit.com/questions/3061514-how-do-i-amend-a-2016-return-in-turbotax

 

How do I carry forward part of my 2017 Harvey casualty loss to 2018 using Turbotax?

Hi,

This doesn't answer the actual question. If you still have leftover casualty loss, how do you carry it forward to 2018? I could not find a form or worksheet for this.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies