Form 4684 - Casualty Loss - from Damage from Deteriorating Concrete Foundations

[Paul-G-328]

I entered "Revenue Procedure 2017-60" at the top of Form 4684 as indicated for this Special procedure, Filled out the form  and got over $200K in a casualty loss on Line 10 and the program deducted the $100 imitation on Line 11 with the result on Line 12 but Line 14 ended up being 0 - not allowing any loss. Should the taxpayer at least get the 10% AGI limitation?

[jeffmcpa2010]

For losses incurred through 2025, the TCJA generally eliminates deductions for personal casualty losses, except for losses due to federally declared disasters, for federal income tax purposes.

[Paul-G-328]

But this was specially approved by statutes 4 years ago

[LA225]

I had cancer and a house I was trying to sell flooded declared disaster 8/14/2016. I did not have flood insurance. No income. It was not my primary residence so FEMA Restore denied me any help. The LHA had a program but I was misinformed as they told me I did not qualify when I actually did but by the time I figured out I should have qualified we were hit by COVID early 2020. I am a wreck, crying. I did not claim a casually loss 1) I was dumb and didn’t know to  2) I kept thinking I would get income to qualify for the LHA program to fix my property. Starting with my cancer 2015, flood 2016 it’s taken me time to recoup from chemo and then my sister got cancer and I’ve dealt with guilt I survived and she did not. She passed May 1, 2020 also my mother in her 70s and losing her daughter and her job as a nurse because COVID forced her into retirement. I know I need therapy but right now I need TAX HELP. I took our last couple years of tax returns bought a little crypto currency and it shows like I made $90K when I’m broke! At time of flood house value $103K now value $29K per city inspectors evaluation and Restore evaluation…$75,000 in damages. Anyone contact me please krystal1969 @ yahoo . com with a phone number to call. Can I claim a casualty loss on 2021 taxes for DR-4277-LA. The property is still vacant since the flood and not livable. Hope someone reaches out to me soon 

[Terry53029]

Revenue Procedure 2017-60 was issued in 2017. Tax laws change

Limitation on personal casualty and theft
losses. For tax years 2018 through 2025, if
you are an individual, casualty or theft losses of
personal-use property are deductible only if the
loss is attributable to a federally declared
disaster. Personal casualty and theft losses
attributable to a federally declared disaster are
subject to the $500 per casualty limitation.

[itonewbie]

This sounds like a nonstarter, whether or not this provision was suspended by TCJA.  Deterioration is hardly sudden and unexpected.

In other years, there may be reasons to look deeper but that isn't relevant now as far as casualty loss is concerned.