I don't normally have enough deductions to itemize, but this year suffered loss from Hurricane Laura and had a large deductible to pay. I see that this can be claimed without itemizing, but don't see how to do that.
As part of tax reform relief for those affected by natural disasters, you can now deduct your total loss (minus $500 and any amount covered by insurance) along with your usual Standard Deduction.
Here is how you can claim the deduction on your return:
This section wants you to put in the value of home before and after. Is there away to just use the deductible amount or the insurance claim summary minus payments
No, you need the fair market value information to compute your loss.
According to Figuring a Loss in the IRS’ 2021 Publication 547,
To determine your deduction for a casualty or theft loss, you must first figure your loss.
Amount of loss. Figure the amount of your loss using the following steps.
1. Determine your adjusted basis in the property before the casualty or theft.
2. Determine the decrease in fair market value (FMV) of the property as a result of the casualty or theft.
3. From the smaller of the amounts you determined in (1) and (2), subtract any insurance or other reimbursement you received or expect to receive.