Is it too late to file an amended 2016 return to claim casualty loss from Hurricane Mathew? I am in the declared disaster area.

[bamafan4]

I sustained a substantial casualty loss (dock/boat house) due to Hurricane Mathew (Oct. 2016) that I did not claim on my 2016 tax return because the repair/replacement was not completed until after I submitted the 2016 return. My home is located in the declared Hurricane Mathew Federal Disaster area. As I was preparing an amended return to claim the loss, I found the following requirement in some of the literature regarding casualty losses: You have six months after the tax filing due date for the year of your loss to decide what year you want to claim the deduction in. Am I outside the window for submitting an amended return? If so, do I have any other options for claiming the loss?

[BMcCalpin · Accepted solution]

You can file an amended return within 3 years after the date you filed your original return or within 2 years after the date you paid the tax, whichever is later.

The six month limit for choosing which year to take the casualty loss applies only to this election of which year (2015 or 2016, in your case), not to the ability to take the loss at all.

You are still able to amend your 2016 tax return to claim the casualty loss.