Federally Declared Disaster

[1040Lester]

Hello,

I have a client who lost their home in the Paradise fire, a Federally Declared Disaster.  We elected to use the four year window for reinvestment of the funds.  The four years is up in 2021.

If there is any taxable gain from the disaster, when is the taxable event ?  In 2021 or 2017? 

[George4Tacks]

https://www.irs.gov/publications/p547#en_US_2021_publink1000225395

[1040Lester]

Thank you, George.  I appreciate it.