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I had casualty losses from hurricane Irma in excess of $4000 and also losses from an auto accident of $1000. why do I only see $900 on my return so far??
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I had casualty losses from hurricane Irma in excess of $4000 and also losses from an auto accident of $1000. why do I only see $900 on my return so far??
To get the benefits of a qualified disaster loss, follow this answer but select the disaster that applies to you:
https://ttlc.intuit.com/replies/6679901
As TTPhillip says, the auto accident is a separate event and is subject to the 10% of AGI haircut on line 17 of Form 4684.
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I had casualty losses from hurricane Irma in excess of $4000 and also losses from an auto accident of $1000. why do I only see $900 on my return so far??
To get the benefits of a qualified disaster loss, follow this answer but select the disaster that applies to you:
https://ttlc.intuit.com/replies/6679901
As TTPhillip says, the auto accident is a separate event and is subject to the 10% of AGI haircut on line 17 of Form 4684.
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I had casualty losses from hurricane Irma in excess of $4000 and also losses from an auto accident of $1000. why do I only see $900 on my return so far??
Without the ability to look at your return or information on this public online forum, I can only provide you with suggestions about possible problems.
Casualty and theft losses have large limits for personal property losses like homes. The loss from the car being total depends on whether this was a business or personal use vehicle (feel free to let me know more details)
Casualty losses are first reduced 100 dollars for each listed asset on Form 4684, and the total of the casualty losses must be equal to an amount that is greater than 10% of your adjusted gross income before any of your losses are deductible. For example, if your income is 100,000 dollars, the loss must be 10,001 dollars before 1 dollar of the loss is deducted.
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