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February 3, 2025
Question

Do you get a tax break for having a natural disaster

  • February 3, 2025
  • 1 reply
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    February 3, 2025

    It depends. ‌If you had expenses due to a disaster, and lived in a federally declared disaster area, then you may be able to deduct the expenses under the Casualty and Theft Deduction.

     

    Here is how to enter the expenses:

     

    1. Open or continue your return in TurboTax Online 
    2. Navigate to Federal > Deductions & Credits > Disasters, theft, and other property loss or damage
    3. On the Casualties or Theft Event screen, select "This event qualifies as a Federally declared major qualified disaster loss"

     

     Here is an  article with more information.