Do I need to file form 4684?

[theweav]

Hi,

We lost our home in the Easter tornado which struck Chattanooga Tennessee on April 12, 2020. I am in the process of reviewing my Turbo Tax return. In the process, form 4684 came up for review. It showed the discription of Tornado, the date, and that it was listed as personal, individual. I don't recall inputing this information, but there it was. Although my area was declared a disaster area (DR-4541), my home was  completely replaced by insurance. Do I still need to fill out this form?

[ErnieS0 · Accepted solution]

No. You do not have to file Form 4684 is you are not claiming a loss, i.e. insurance did not cover 100%. Was there anything not covered? Car? Personal possessions? You can claim those.

Otherwise,

• Type casualty loss in Search in the upper right
• Select Jump to casualty loss
• On Casualty and Theft Summary, delete the tornado

Generally, you may deduct casualty and theft losses relating to your home, household items, and vehicles on your federal income tax return if the loss is caused by a federally declared disaster declared by the President. You may not deduct casualty and theft losses covered by insurance, unless you file a timely claim for reimbursement and you reduce the loss by the amount of any reimbursement or expected reimbursement.

Related Resource:

• Topic No. 515 Casualty, Disaster, and Theft Losses

[theweav]

That was really helpful. Thanks so much.