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shavett1
New Member

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

 
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MinhT
Expert Alumni

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

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:

  • Click on Search on the top right of your screen
  • In the search box, type casualty loss
  • In the search result page, click on Jump to Casualty loss
  • TurboTax will take you through a questionnaire where you can enter the details of your loss


Edited 01.19.18  |  6:30 PM




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6 Replies
MinhT
Expert Alumni

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

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:

  • Click on Search on the top right of your screen
  • In the search box, type casualty loss
  • In the search result page, click on Jump to Casualty loss
  • TurboTax will take you through a questionnaire where you can enter the details of your loss


Edited 01.19.18  |  6:30 PM




**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

Your losses are lost value of property that were not reimbursed by insurance.  You should combine all your losses from one event in one claim (new roof, trees and landscaping, personal property, flood damage, or whatever.)

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

Trees lost in a hurricane are not deductible.

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

Sure they are.  If you can prove that your real property (land plus attached buildings) is worth less due to the loss of your landscaping, thats an allowable casualty loss, the same as if your house had blown away instead.

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

The tax bill that became law in December gave specific relief for hurricane Irma and some other disasters that modify the casualty loss requirements.  See this TurboTax FAQ:

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4160857-what-tax-relief-can-i-get-if-i-ve-been-affected-by-hurrica...>
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
allisonge
New Member

I have a question about the damage that was done to my personal property such as food that was lost during hurricane Irma and if that qualifies for a credit?

If Insurance has still not come through for lost belongings, do I put '0' where it asks for insurance reimbursement?
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