Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Form #4684 Disaster Losses

rusty-magic
Level 3

Looking for help with a claim from Hurricane Irma

Client replaced damaged structure in 2007 for $46K .  Insurance reimbursed entire amount.  Structure was destroyed again in Hurricane Irma.  Cost to replace is $41K. No insurance reimbursement this time.

When I fill out the form it looks like there is no loss since the insurance reimbursement covered the first disaster.  Is that correct?  Is there any tax benefit from replacing the structure the second time where there was no insurance reimbursement?

Thanks for the help.

 

0 Cheers

This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion

1 Best Answer

Accepted Solutions
George4Tacks
Level 15
I thought you said "No insurance reimbursement this time." Two separate years. Two separate losses.

Answers are easy. Questions are hard!

View solution in original post

2 Comments 2
George4Tacks
Level 15
I thought you said "No insurance reimbursement this time." Two separate years. Two separate losses.

Answers are easy. Questions are hard!
rusty-magic
Level 3

Thanks.  I think I was just overthinking this and making it harder than I needed to.  Trying to include both losses when I should not have.

 I really Appreciate your help.

Very glad you reached out.

Have a great tax season.