Fl Hurricane Disaster creeit

Claiming Casualty Loss Deductions If you have experienced losses from hurricane damage, understanding casualty loss deductions is essential: Eligibility: Losses related to personal property, including homes, vehicles, and personal belongings, qualify for deductions. Businesses can also claim losses, although different regulations may apply. Filing: Use Form 4684 and report the deductions on Schedule A. Without a “qualified disaster” designation, the 10% AGI rule remains applicable for affected areas at the time of writing.