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New Member
posted May 31, 2019 6:15:57 PM

No place to enter house loss due to water damage out of pocket cost for us was 1000.00 where do I put that figure

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1 Best answer
New Member
May 31, 2019 6:16:11 PM

It's not that simple to enter a casualty loss.  You have to follow the steps and answer the questions.  The loss is determined by changes in fair market value, not just a set figure of out of pocket expense.  You may find it's not worth wading through it because $100 is deducted from your loss amount and then 10% of your Adjusted gross Income is subtracted.  If your AGI is over $10,000, you would have no deductible loss.

6 Replies
Level 15
May 31, 2019 6:16:00 PM

A sudden flood, or a slow leak?

Level 15
May 31, 2019 6:16:02 PM

I'm thinking this will be dealt with under the Deductions & Credits tab in the Casualty & Thefts section, when you get to it.

New Member
May 31, 2019 6:16:06 PM

I know but it doesn't let me put in a dollar figure

Level 15
May 31, 2019 6:16:08 PM

That section may not be complete yet.

New Member
May 31, 2019 6:16:11 PM

It's not that simple to enter a casualty loss.  You have to follow the steps and answer the questions.  The loss is determined by changes in fair market value, not just a set figure of out of pocket expense.  You may find it's not worth wading through it because $100 is deducted from your loss amount and then 10% of your Adjusted gross Income is subtracted.  If your AGI is over $10,000, you would have no deductible loss.

Level 15
May 31, 2019 6:16:14 PM

The Casualty and Theft section is available (test done using Deluxe edition with a $1,000 loss)

  • Click on Federal Taxes
  • Click on Deductions and Credits
  • Click on I'll choose what I work on or Skip to see all tax breaks
  • Scroll down to Other Deductions and Credits 
  • On Casualties and Thefts, click the start or revisit button