What year should I claim casualty losses due to Hurricane Irma?

I had casualty losses to my home in September 2017 from Hurricane Irma . The home is in a federally declared disaster area. I will be unable to repair all the damage in 2017. Should I claim my losses on my 2017 return or wait until 2018 when all repairs are complete?

Or should I claim the repair costs in the year in which they occurred? If I do this, will I have to meet the 10% AGI requirement each year?

What is the best way to go?

posted

See IRS Pub 547, page 13 (Disaster Area Losses) for information and choices.

https://www.irs.gov/pub/irs-pdf/p547.pdf

**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.**