Turbo Tax - Katrina Casualty losses

Aug 21, 2006 4 Replies
P

I bought Turbo Tax thinking it would take into consideration the tax changes for disaster areas (for instance, removal of the $100 plus



10%AGI reduction of Katrina Casualty losses, etc) but I'm finding no worksheets or forms specifically for the Katrina rules. Is anyone else in the disaster area using Turbo Tax this year to calculate '05 and amend their '04 return? Is there a separate update that applies the Katrina rules that I haven't seen?? At this point, to use the IRS Cost Index Tables and Safe Harbor Rules, I'm thinking I may have to do my taxes manually (which kinda sucks).

Port


Vote
Twitter Facebook LinkedIn
J

Suggest you might want to look at the TTax forum for info. Link:

formatting link

Vote
Twitter Facebook LinkedIn
P

Thanks for the link. I tried a post there as well.

Port

Vote
Twitter Facebook LinkedIn
R

Hi, Port.

I don't have the Katrina problem, thank goodness! But I do have TurboTax Basic 2006. And, as I started inputting my carryover info to get ready for this year's return, I did notice a question - very early in the Interview process - about whether I was affected by Katrina. Did you see that question?

Also, it's still early in the tax preparation season. Many tax forms have not been finalized and incorporated into TT. My guess is that it will be some time well into January before the final updates to the program arrive.

But your question was specifically about 2005, the year of the storm, and

2004, the prior year. Have you tried re-loading TurboTax 2005 and looking for any late updates to that year's program?

My sympathies for your losses.

RC

Vote
Twitter Facebook LinkedIn
P

I didn't at first but I finally saw it. And yes, ticking that lead to the use of Katrina rules. So I beat the Oct 16 deadline for 2005 tax filing and gettin' ready for Apr 15 for 2006 taxes. With only 6 months in between, this is feeling like a full time job ;-)

Port

Vote
Twitter Facebook LinkedIn

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required