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vduben2
New Member

Will Hurricane Nate (10/07/17) qualify for special tax treatment? what do I need to do to claim my loses?

 
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Accepted Solutions
LeeM
New Member

Will Hurricane Nate (10/07/17) qualify for special tax treatment? what do I need to do to claim my loses?

Yes, for tax purposes, natural disasters are treated in three different ways, with varying levels of tax relief. That’s why you may have heard contradictory stories about what’s available.

  • Check here to see if your location has been officially declared part of a disaster area. Declarations can take time, so make sure to check back for updates.

You can also review the TurboTax FAQ on how to enter those losses:

https://ttlc.intuit.com/replies/6395931

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3 Replies
LeeM
New Member

Will Hurricane Nate (10/07/17) qualify for special tax treatment? what do I need to do to claim my loses?

Yes, for tax purposes, natural disasters are treated in three different ways, with varying levels of tax relief. That’s why you may have heard contradictory stories about what’s available.

  • Check here to see if your location has been officially declared part of a disaster area. Declarations can take time, so make sure to check back for updates.

You can also review the TurboTax FAQ on how to enter those losses:

https://ttlc.intuit.com/replies/6395931

pierceinc
New Member

Will Hurricane Nate (10/07/17) qualify for special tax treatment? what do I need to do to claim my loses?

Hurricane Nate was declared Federal disaster in Nov 2017 but has not been added to the list of losses for Special tax situations. How do we get the tax break?
TerryA
Intuit Alumni

Will Hurricane Nate (10/07/17) qualify for special tax treatment? what do I need to do to claim my loses?

The Disaster Tax Relief and Airport and Airway Extension Act of 2017 is only for the Hurricanes listed in TT/Calif (Harvey, Irma, Maria), and the Bipartisan Budget Act of 2018 brought in the California wildfires. Hurricane Nate is not a "qualified" disaster for purposes of special treatment.
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