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R
ritter999
February 23, 2025
Question

I had $750.00 from Helene loss. Area was designated as Disaster area by FEMA. I keep plugging in the loss, but will not show up in my tax break section

  • February 23, 2025
  • 1 reply
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    1 reply

    M
    MinhT1
    February 23, 2025

    You may not see a tax deduction for your casualty loss as your loss is only $750.

     

    The first $100 of loss is not tax-deductible, but the remainder of the loss is tax-deductible only to the extent that it exceeds 10% of your adjusted gross income.

     

    Please read this TurboTax blog for more information.

     

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