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December 11, 2024
Question

Huricane milton tax relief. Are persons whose primary home (IRS address) is outside the affected area, but own second homes inside the area eligible for the tax relief?

  • December 11, 2024
  • 1 reply
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    1 reply

    December 11, 2024

    Yes. But see this link for information:

    https://budgeting.thenest.com/can-deduct-loss-second-residence-23574.html 

     

    You also have options for when to take the loss

    https://www.irs.gov/pub/irs-pdf/p547.pdf 

     

    The instructions are from 2023.

    Since Milton hit late in 2024, it's not covered, but it should be when the 2024 instructions come out.