Question

How to file casualty loss with house lost in a landslide?

Forum|Forum|2 years ago
March 12, 2024
2 replies
0 views

I lost a house in a landslide.

TurboTax Online

Employee

Casualty and Theft losses are not deductible on a federal tax return unless the loss occurred in a federally declared disaster area.

AmyC

Employee

You need to determine if part of a federal disaster and /or you may have insurance reimbursement.

You want to begin with Topic No. 515 Casualty, Disaster, and Theft Losses | Internal Revenue Service. Declaring a federal disaster loss is covered in the article and you would use Form 4684 for casualty loss.

However, you may have had a gain due to insurance, which would create taxable income. This is also covered in Topic 515. I am sorry this happened to you.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"