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posted May 31, 2019 11:03:03 PM

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

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1 Replies
Level 15
May 31, 2019 11:03:07 PM

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.