How tax season for Hurricane Ian victims could bring good news

To ensure Hurricane Ian victims claim their losses on their tax returns, there are some important steps you need to take before you file in 2023.

For Hurricane Ian victims, tax season in 2023 could actually bring some much-needed good news.

“As far as tax relief for hurricane Ian losses, taxpayers will be able to take their losses, their actual dollar losses,” Marybeth Anderst, a CPA employee, said.

Whether it is drywall, lumber, or a tree, Anderst says you must keep track of it.

“Keep track of absolutely everything you spend, everything,” Anderst said.

But it’s not so easy for Ian’s victims, like Mitchell Maving from Naples Park, who are still reeling from the damage they experienced.

“I’m trying not to finalize the list because it’s overwhelming,” Maving said.

Maving said his losses top six figures, and they’re still counting.

“Pool damage, patio damage, pool equipment damage which isn’t covered by any insurance,” Maving said

Those losses can be itemized, which Maving said is great, in theory.

“We’ll see, my accountant is kind of telling me, you know, you need to itemize, get proposals for everything, landscaping, whatever, anything not covered by insurance. In theory, you’re supposed to be able to deduct it. If that happens, then yeah, that will be a huge help,” Maving said.

One thing Ian’s survivors don’t want is another migraine.

“You start doing massive itemized deductions, and the chances of the IRS coming and making your life miserable are very high,” Maving said.

Marybeth said if tax season is too much to navigate, all you need to do is file for an extension to give yourself more time.