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When you go through the TT Casualty losses part of the program and you select that this is a personal property loss, you will then be prompted to select the type of loss and 5 of those are for qualifying disaster losses. Pick Hurricane Irma, fill out the property loss information and you will get the benefits of the qualified disaster loss deduction including skipping the 10% of AGI haircut and you don't have to itemize.
It depends. Here is information on Casualty Losses and recording them in TurboTax, plus outlined below is information from the IRS regarding casualty losses.
https://ttlc.intuit.com/replies/3301959
Per IRS: Casualty and Disaster Tax Losses
A casualty is the damage, destruction or loss of property resulting from an identifiable event that is sudden, unexpected or unusual. If the damage is to personal, income?producing or business property, taxpayers may be able to claim a casualty loss deduction on their tax return.
Taxpayers generally must deduct a casualty loss in the year it occurred. However, if the property was damaged as a result of a federally-declared disaster, taxpayers can choose to deduct that loss on their return for the tax year immediately preceding the year in which the disaster happened. A federally-declared disaster is a disaster that took place in an area declared by the President to be eligible for federal assistance. Taxpayers can amend a tax return by filing a Form 1040X, Amended U.S. Individual Income Tax Return.
Figuring Loss
Taxpayers may need to reconstruct their records to prove a loss and the amount of the loss. To compute loss, determine the following figures:
Taxpayers may deduct the smaller of these two amounts, minus insurance or other reimbursement. Additionally, certain deduction limits apply. See Publication 547, Casualties, Disasters and Thefts, for details on these limits and Publication 551, Basis of Assets, for additional information on basis.
If the casualty loss deduction causes a taxpayer’s deductions for the year to be more than their income for the year, there may be a net operating loss. For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates and Trusts.
Determining the Decrease in Fair Market Value
Fair market value (FMV) is generally the price for which the property could be sold to a willing buyer. The decrease in FMV used to figure the amount of a casualty loss is the difference between the property's fair market value immediately before and after the casualty. FMV is generally determined through a competent appraisal. Without a competent appraisal, the cost of cleaning up or making certain repairs is acceptable under certain conditions as evidence of the decrease in fair market value.
Generally, the cost of cleaning up or making repairs if the repairs are:
For more information on losses, see these IRS publications:
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