Can hurricane damage be claimed on taxes?
To qualify for a tax deduction, the loss must result from damage caused by an identifiable event that is sudden, unexpected or unusual. These include: earthquakes, lightning, hurricanes, tornadoes, floods, storms, volcanic eruptions, sonic booms, vandalism, riots, fires, car accidents and, oh yes, shipwrecks.
Personal casualty losses of individuals are deductible to the extent that they are attributable to a federally declared disaster area. This encompasses areas devastated by hurricanes, earthquakes, major flooding, blizzards, tornadoes, wildfires and other events.
Can You claim personal loss from Hurricane Harvey?
This is an archival or historical document and may not reflect current law, policies or procedures. Personal casualty losses resulting from certain 2017 federally declared disasters, including Hurricane Harvey and Tropical Storm Harvey, may be claimed as a qualified disaster loss.
What kind of loss can you claim after a hurricane?
That includes a hurricane, flood, tornado, fire, earthquake or even volcanic eruption. A casualty loss does not include normal wear and tear or damage that happens over time, like termite damage. To claim a casualty loss on your federal income tax return, you must itemize your deductions using Schedule A, Itemized Deductions (downloads as a pdf).
How to contact the IRS about Hurricane Harvey?
Taxpayers can also identify themselves to the IRS or ask hurricane-related questions by calling the special IRS disaster hotline at 866-562-5227. IR-2017-148, IRS Reminds Partnerships that Received Extensions: Returns Due Sept. 15 Tax Relief Available for those Affected by Hurricane Harvey; IRS Monitoring Hurricane Irma, Upcoming Deadline
When did Hurricane Harvey become a federal disaster?
Personal casualty losses resulting from certain 2017 federally declared disasters, including Hurricane Harvey and Tropical Storm Harvey, may be claimed as a qualified disaster loss. The Hurricane Harvey disaster area covers the area for which the President declared a major disaster before October 17, 2017, because of Hurricane Harvey.
