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Subject Author Date
Turbo Tax - Katrina Casualty losses PortStG 08-21-2006
Posted by PortStG on August 21, 2006, 5:15 pm
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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

Posted by JM on August 21, 2006, 11:05 pm
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PortStG@nospam.invalid wrote:
> 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

Suggest you might want to look at the TTax forum for info. Link:
http://tinyurl.com/rbhk8


Posted by PortStG on August 22, 2006, 12:26 am
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"JM" zado_38 wrote:
>Suggest you might want to look at the TTax forum for info. Link:
>http://tinyurl.com/rbhk8

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

Port

Posted by R. C. White on December 8, 2006, 10:06 am
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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
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Vista Ultimate x64)

>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


Posted by PortStG on January 10, 2007, 5:19 pm
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Running a little behind in my Newsgroup readin' ;-)

On Fri, 8 Dec 06, "R. C. White" wrote:
>I did notice a question - very early in the Interview
>process - about whether I was affected by Katrina. Did you see that
>question?

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

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