Casualty Loss Deduction for Federally Declared Disaster Areas Webinar
Although the Tax Cut and Jobs Act of 2017 eliminated personal casualty loss deductions for the years 2018-2025, business casualty losses and personal losses within federally declared disaster areas are deductible. With recent wildfires, hurricanes and other natural disasters, taxpayers may deduct those losses if they have not been reimbursed by insurance or otherwise. This webinar will walk through the steps of reporting the loss on Form 4684, Casualties and Thefts.
Upon completion of this course, you will be able to:
- Determine whether or not a casualty loss is allowed
- Distinguish the year a casualty loss may be claimed
- Analyze casualty loss limitations
- Complete Form 4684, Casualties and Thefts
Subject matter experts will answer your questions during the presentation. We make every effort to answer as many questions as possible during the webinar but we may not be able to directly address every question.
This webinar includes the presentation slides, attendee top questions and access to the webinar recording.
Kathryn Morgan, EA