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cindysmiley
New Member

Where is the casualty loss section?

The version I am using on your site does not include a Casualty Loss. We had a national disaster in August of 2016 and we lost 100K on our home. Help. I need to file for the casualty Property Loss but there is no way to enter it
1 Reply
xmasbaby0
Level 15

Where is the casualty loss section?

It is difficult to claim a casualty loss because you have to meet a tough threshhold. Only the amount of a casualty loss that is OVER 10% of your adjusted gross income can be counted toward your itemized deductions, and even then you must subtract $100 from that amount.  If your loss was covered by insurance, it is very unlikely that the amount of your deductible would be enough to count as a deduction.  If you want to enter your casualty loss, go to the Federal>Deductions and Credits> Deductions and Credits>Casualties and Thefts.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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