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February 13, 2020
Question

So I was in a area that was directly affected by a natural disaster in 2019. Even though I didn't suffer much damage should I have claimed it?

  • February 13, 2020
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1 reply

February 13, 2020

It depends on your losses. If you are saying you didn't suffer much, the deduction might not affect your return.

The loss deduction is subject to the $100 limit per casualty and the loss must exceed 10% of your adjusted gross income (AGI).

Also you must Itemize to claim the deduction.

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