Qualified Disasters for 2018

[curiousmarylander]

Hello,

I am using TurboTax for 2018 and I want to know if I can deduct the cost or get a credit for damage that was done to my home during a Nor'easter in MD in March 2018. Insurance did not cover the entire cost. The governor declared a state of emergency.   I borrowed from 401K to pay for repairs and I am not 59 1/2. The only disasters are listed are disaster from 2017.  I am trying to avoid the tax penalty. Is there a salary limit? If so, what is it? Thanks.

[NCperson]

was it a federally declared disaster? 

https://www.irs.gov/newsroom/tax-relief-in-disaster-situations

[curiousmarylander]

Thanks for the link.  Per the link, no.  It was declared a state emergency.  Will this count on the state return?  Thanks.

[NCperson · Accepted solution]

I would trust TT to prompt you with questions if it was.....