Question

Is there a tax credit for iowans who were affected by the Deracho?

i was told by a co worker that there is a tax credit available this year for all of us who had damage from the derecho

Yes there is some potential tax relief for the Iowa Derecho victims. Here is a link with announcement from IRS.

To get a potential deduction for a casualty or loss:

Go to the "Deductions & Credits" tab at the top of the page

Scroll down to "Other deductions"

Click "Show More"

Click "Start" next to "Disaster, loss..."

Go through this interview topic

The code for the Derecho incident is DR-4557.

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