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L
lisaschamber83
June 1, 2019
Question

How do i report major loss do to a declaired disaster (flood)

  • June 1, 2019
  • 1 reply
  • 0 views
our house and all contents and 1 car were a total loss

1 reply

K
Kadian11
Employee
June 1, 2019

You report this as a Casualty and Theft Deduction. This deduction covers property that’s damaged as a result of a disaster, such as a storm, flood, fire, car accident, or similar event, and also covers stolen property. Property includes anything you own.

To enter this in TurboTax:

  1. Got to the "Federal Taxes" tab
  2. Click on "Deductions & Credit" 
  3. Scroll down to "Other Deductions and Credits" and click on "show more" to the right of it
  4. Click "Start" next to "Casualties and Thefts" continue to follow the onscreen guide. 
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