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New Member
posted Feb 23, 2025 9:18:50 AM

I had $750.00 from Helene loss. Area was designated as Disaster area by FEMA. I keep plugging in the loss, but will not show up in my tax break section

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1 Replies
Expert Alumni
Feb 23, 2025 9:30:06 AM

You may not see a tax deduction for your casualty loss as your loss is only $750.

 

The first $100 of loss is not tax-deductible, but the remainder of the loss is tax-deductible only to the extent that it exceeds 10% of your adjusted gross income.

 

Please read this TurboTax blog for more information.