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New Member
posted Mar 12, 2024 12:54:27 PM

How to file casualty loss with house lost in a landslide?

I lost a house in a landslide.

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2 Replies
Level 15
Mar 12, 2024 12:59:18 PM

Casualty and Theft losses are not deductible on a federal tax return unless the loss occurred in a federally declared disaster area.

Expert Alumni
Mar 13, 2024 9:15:28 AM

You need to determine if part of a  federal disaster and /or you may have insurance reimbursement. 

 

You want to begin with Topic No. 515 Casualty, Disaster, and Theft Losses | Internal Revenue Service. Declaring a federal disaster loss is covered in the article and you would use Form 4684 for casualty loss.

 

However, you may have had a gain due to insurance, which would create taxable income. This is also covered in Topic 515. I am sorry this happened to you.