Hurricane Ian

[Nana44]

I purchased a vacation condo in Florida in March of 2022 and it was severely damaged by wind and water. Is there anything that I can claim on my income taxes?  I was intending to rent it Jan - April of 2023 and lost all of the income because of the damage and repair. 

[DavidT0202]

Hi @Nana44 

I am sorry to hear that you were affected by the Hurricane.   The IRS has released instructions on claiming losses for this HERE.

Please review the guidance above it includes the following: 

Casualty Losses

Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. See Publication 547 for details.

Individuals may deduct personal property losses that are not covered by insurance or other reimbursements. For details, see Form 4684, Casualties and TheftsPDF and its instructions.PDF

Affected taxpayers claiming the disaster loss on their return should put the Disaster Designation, "FL Hurricane Ian" in bold letters at the top of the form. Be sure to include the FEMA disaster declaration number, DR-4673-FL, on any return. See Publication 547 for details.

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