I have a FL client who incurred $8,000 of unreimbursed personal casualty losses from Hurricane Ian. I see that the full loss can be deducted but not sure if I need to make an election on the tax return or where to enter the $8,000 loss. Do I need to prepare Form 4684...or is there a shortcut method in this case?
Any help would be appreciated. Three more weeks to go!
need to use the 4684
Wonder why there is no checkbox for the Ian situation
If youve got the FEMA number, and it was declared a qualified disaster, I think you can just check box e...when did Ian happen? its possible they just dont have the form updated for it yet.
I think you check Box "f" for Ian.
thats possible, we dont do hurricanes out here in CA!
wildfires and probably an earthquake one of these days is our jam!
I think the "qualified" disasters ended in February of 2021, and anything after that is not "qualified".
https://www.irs.gov/instructions/i4684#en_US_2022_publink100011408
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