Question

Declaring property damage from natural disaster

Forum|Forum|4 years ago
April 5, 2022
1 reply
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Part of my home was damaged (roof and flooring) during Hurricane Eta (EM-3551-FL) in November 2020. I'm currently in the "Casualty or Theft Event" section under "Deductions & Credits", and would like to claim this damage. Is it too late to declare this loss for my 2021 taxes? If so, should I file an amendment to my 2020 taxes in order to report this? Either way, what supporting documentation should I have? I filed an insurance claim, but haven't yet received any insurance payment.

H

HelenC12

Since the natural disaster occurred in 2020, yes, you would show the disaster and amend your 2020 income tax return.

You don't have to submit any supporting documentation but you should keep all the paid invoices for the repairs and any insurance/other reimbursements, with your tax records. I also suggest you wait for the reimbursement from your insurance company since you enter insurance reimbursements on Form 4684 Casualties and Thefts.

The IRS has an extensive list of suggestions for how to establish what you lost and proof.

If you don't want to wait for the insurance reimbursement amount, you'll just report the amount reimbursed on a future return. See What is a claim of right repayment?

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