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February 15, 2025
Question

We had a total loss of on 9-4-2024 from our House burning down. Is there any form I can complete and possibly reduce my taxes due to both State of SC and Federal?

  • February 15, 2025
  • 1 reply
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    AmyC
    Employee
    February 15, 2025

    Instructions for Form 4684, Casualties and Thefts states: For tax years 2018 through 2025, if you are an individual, losses of personal-use property from fire, storm, shipwreck, or other casualty, or theft are deductible only if the loss is attributable to a federally declared disaster (federal casualty loss). See Pub. 547 for more information.

     

    Unfortunately, FEMA announced that federal disaster assistance is available to the state of South Carolina to supplement recovery efforts in the areas affected by severe storms and flooding from Nov. 6-14, 2024.

     

    2024 SC1040 Individual Income Tax Form and Instructions- the state conforms to federal so there is no deduction.

    I am very sorry for your loss.

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