Ian disaster survivors could claim disaster-related losses on tax returns

Reporter: Rodaris Richardson
Published: Updated:
A home in Cape Coral suffering significant damage from Ian. (CREDIT: WINK News)

Some people suffering from huge property losses due to Hurricane Ian may be eligible to claim those losses in their tax return if they could not get reimbursed through their insurance.

However, as IRS public affairs and communications specialist Alejandra Castro said, this is on a case-by-case basis.

“Taxpayers in a federal disaster area have the option of claiming disaster-related losses, casualty losses on their tax return on the year that the loss occurred, or the prior year,” Castro said. “Every situation is different. And I can’t speak for every particular case.”

However, Castro said, if a taxpayer was unable to get reimbursed through their insurance, they can try and claim it as a casualty loss on their tax return.

This can only be done when the damage results from a disaster in a federally-declared disaster area.

“And in this case, we know that the entire state of Florida received tax relief. Tax Relief basically, is when we extend the filing date for taxpayers in those areas,” Castro said. “For example, if a taxpayer had a valid extension until Oct. 17, and they resided in this area, they now have until Feb. 15 to file and not have to worry that they’re going to get penalties for late filing.”

The IRS recommends anyone looking for more information to speak to their tax preparer or visit IRS.gov.

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