Hurricane IAN Casualty Loss

I sent an email to my tax accountant in Dec 2022 asking how to claim a “Hurricane IAN” casualty loss on my 2022 federal taxes. Since hurricane IAN is a federally declared disaster, with an approved FEMA disaster code (DR-4673-FL), individuals may claim a disaster loss on their federal tax form (under certain conditions).

Note that I’m not a tax expert and provide this information as-is. You will/should contact your own tax accountant for additional information.

My tax accountant responded with 2 attachments that help explain this issue:

  • Hurricane IAN CPA Tax Assistance Guide. This guide was provided by a service my tax accountant obtained that provides business advise.
  • IRS Booklet 584. This booklet is published by the IRS and provides instructions and help guide on how to calculate a loss that you may deduct.
  • DR-4673-FL. FEMA Hurricane IAN Quick Links

Most of the requirements necessary to calculate your loss state that you must calculate the loss suffered by comparing the pre-IAN residence value to the post-IAN value. Additionally, this paragraph was included in the brief sent to my accountant which implies that you can claim a loss on the “cost to repair or replace” damaged items.

So, read the information above and contact your tax specialist for clarification.

Send email to me if you want me to correct or alter this information at:

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