On my 2022 tax return, I marked Hurricane Ian as a "qualified disaster", but not as a "qualified MAJOR disaster." Due to the Steube bill passing, is it now a "qualified major" disaster?
If not, is there anything I can gain by filing an amended return?
You'll need to sign in or create an account to connect with an expert.
It depends on your actual situation. However, if you had expenses that were not allowed when Hurricane Ian was considered a Qualified disaster for tax purposes and now would be allowed with the qualification as a Major disaster, you may have a gain by filing an amended return if after you claimed all other expenses and deductions, you still had taxable income.
With the change, your losses would be added to your standard deduction to arrive at your taxable income. So, if you were single, had income of $100,000, and a $12,950 standard deduction in 2022 and qualified Major disaster losses of $90,000, you would no longer have taxable income and would get any taxes back you paid in for that year that was not already refunded.
If however, you had income of $25,000 and were married filing jointly, you would have had a standard deduction of $25,900, so you would already have no taxable income. In this situation, you would not gain anything by filing an amended return.
The losses are a deduction from income, not a tax credit.
If you are unsure, you can go in and amend your return to see how it impacts you.
Casualty and Losses Form 4684 Instructions
Thanks, that's very helpful.
If I'm understanding you, Ian is now a qualified "Major" disaster. Is that correct?
Is Turbotax actually updated to handle the changes due to the Disaster Relief Act signed in December 2024? Can the 2022 version process an amended return correctly?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Highflight
New Member
amystoys
New Member
canes
Level 1
rntcrawford
New Member
bustedartist
New Member