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Level 2
June 27, 2024
Question

Disaster Deductions

  • June 27, 2024
  • 1 reply
  • 2 views

We had a federal declared disaster - Hurricane IAN/Florida/2022.  After fighting with Ins Co we finally got our roof replaced in 2024 - After their payment, we still incurred a loss (deductible, drywall, etc).

          Do I file for the loss in my 2024 return (or) can I amend my 2022 return?

 

    1 reply

    Level 15
    June 27, 2024

    Because the loss occurred in 2022, that;s when you report it on your tax return.  (You must report the FEMA number of the disaster on your tax return and the number must match the year.)

    https://www.irs.gov/taxtopics/tc515

    dataportAuthor
    Level 2
    June 27, 2024

    I didn't report my losses on my 2022 return.  Can I report it as an amended return - or file it on my 2024 return?

    Level 15
    June 27, 2024

    @dataport wrote:

    I didn't report my losses on my 2022 return.  Can I report it as an amended return - or file it on my 2024 return?


    You can only report it in the year of the loss.  That means you must amend your 2022 return.