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Yes, you can claim the loss as a Casualty and theft loss.
As part of hurricane tax relief, you can deduct your total loss (minus
$500 and any amount covered by insurance) along with your usual Standard
Deduction. This means you’ll be able to claim everything you lost over
$500 without having to itemize deductions on your taxes.
Make sure to indicate in the My Info section that you were affected by a hurricane (see attached screenshot).
To enter your loss in TurboTax, please follow these steps:
Edited 01.19.18 | 6:30 PM
Yes, you can claim the loss as a Casualty and theft loss.
As part of hurricane tax relief, you can deduct your total loss (minus
$500 and any amount covered by insurance) along with your usual Standard
Deduction. This means you’ll be able to claim everything you lost over
$500 without having to itemize deductions on your taxes.
Make sure to indicate in the My Info section that you were affected by a hurricane (see attached screenshot).
To enter your loss in TurboTax, please follow these steps:
Edited 01.19.18 | 6:30 PM
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