I'm sorry about your loss from the flood!
You can report the casualty loss on your tax return by following these
steps:
- Click on Federal
> Deductions & Credits.
- In the Other
Deductions and Credits section, click on the Start/Revisit box
next to Disasters, theft, and other property loss or damage. If
you've started entering some casualty/theft information, you will see a
screen Casualty and Theft Summary.
-
Click on the Add a Casualty or Theft link to add another
event. You can also edit or delete your previous entry.
- If you
haven't entered any casualty information yet you will see the screen, Did
you have anything damaged or stolen in 2018? Click the Yes
box.
- On the
Losses From Fraudulent Investments screen click on the No box.
- On the Casualty
or Theft Event screen, enter the requested information and mark the
appropriate box--Personal or Income-Producing Property.
- On the
next screen, Personal [or Business] Property-Information, enter the
information about the loss, including the insurance reimbursement.
For additional help please see these FAQs:
I live in a federally declared disaster area, what
does that mean for my taxes?
What if I've been affected by a natural
disaster?
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