qualified disaster - fire

Forum|Forum|2 years ago
October 25, 2023
1 reply
4 views

My house was a total loss after a large wildfire in Colorado at the end of 2021. I forgot to include it claim the loss in my 2021 filing. I tried to amend my 2021 return and when input it, it reduced my refund rather than increasing it. Why would that be and how do I claim it to increase my refund?

Ask the Experts - Extension - Sept 2023

EleanoreS

Employee Tax Expert

Good day nola2,

I am sorry to hear about the loss of your home in a wildfire in 2021.

It is difficult to determine why your refund was reduced without looking at your return but here are a few possibilities:

The insurance reimbursement exceeded the basis of the home
The correct amount of tax previously paid and or refunded was not accurately entered on the Form 1040X

I would suggest carefully reviewing your entries on Forms 4684 and 1040X.

Here is an article with information about claiming a disaster loss that you may find helpful.

Thank you for reaching out to TurboTax Community.