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djtonyg
New Member

How do i enter casualty loss on my return

the return is almost completed it never mentioned casualty loss
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1 Best answer

Accepted Solutions
Kadian
New Member

How do i enter casualty loss on my return

To enter this in TurboTax:

  1. Go to the "Federal Taxes" tab
  2. Click on "Deductions & Credit
  3. Scroll down to "Other Deductions and Credits" and click on "show more" to the right of it
  4. Click "Start" next to "Casualties and Thefts" continue to follow the onscreen guide. 

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2 Replies
Kadian
New Member

How do i enter casualty loss on my return

To enter this in TurboTax:

  1. Go to the "Federal Taxes" tab
  2. Click on "Deductions & Credit
  3. Scroll down to "Other Deductions and Credits" and click on "show more" to the right of it
  4. Click "Start" next to "Casualties and Thefts" continue to follow the onscreen guide. 

How do i enter casualty loss on my return

It is difficult to claim a casualty loss because you have to meet a tough threshhold. Only the amount of a casualty loss that is OVER 10% of your adjusted gross income can be counted toward your itemized deductions, and even then you must subtract $100 from that amount.  If your loss was covered by insurance, it is very unlikely that the amount of your deductible would be enough to count as a deduction.  If you want to enter your casualty loss, go to the Federal>Deductions and Credits> Other Deductions and Credits>Casualties and Thefts.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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