I am in a federally mandated disaster area, and I am trying to deduct casualties and thefts due to flood. Shouldn't it only take $500 off and not deduct -10% of AGI?

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I am in a federally mandated disaster area, and I am trying to deduct casualties and thefts due to flood. Shouldn't it only take $500 off and not deduct -10% of AGI?

Form 4864 Casualties and Thefts has not yet been finalized for tax year 2017. It should be available on 01/18/2018 (subject to change.

See this TurboTax support FAQ for IRS forms availability - https://ttlc.intuit.com/questions/1908854-irs-forms-availability-table-for-turbotax-individual-perso...

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I am in a federally mandated disaster area, and I am trying to deduct casualties and thefts due to flood. Shouldn't it only take $500 off and not deduct -10% of AGI?

Form 4864 Casualties and Thefts has not yet been finalized for tax year 2017. It should be available on 01/18/2018 (subject to change.

See this TurboTax support FAQ for IRS forms availability - https://ttlc.intuit.com/questions/1908854-irs-forms-availability-table-for-turbotax-individual-perso...

I am in a federally mandated disaster area, and I am trying to deduct casualties and thefts due to flood. Shouldn't it only take $500 off and not deduct -10% of AGI?

Thank you, guess I was trying to get a jump on my taxes and I need to hold my horses.

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