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@AmyC Dear Amy, I'm still confused by this question.
The Derecho incurred in 2020, but my family's loss will be recovered in 2021 (not started yet at this point ).
Which year tax return should I report? 2020 or 2021 tax return?
I appreciate your great patience💗
The IRS has the answer as the year of the loss or the prior year. See Tax Topic 515 with links to pubs for even more help. We are all glad to help!
@AmyC Thank you so much, have a good weekend!
Hello i was about to ask the question of the hurricane that came to ny is sept 2021. I started scratching my head for a second about 2021. thank you for having this up from last year
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