Disaster losses

[Kram BergGold]

Many areas of the country were declared disaster areas in March 2010 due to flooding. My understanding is that under the National Disaster Relief Act, affectd taxpayers can claim these losses without itemizing with a $100 deductible and without having to show a loss greater than 10% of AGI. However the 2009 instructions for Form 4684 contradict this. Am I correct?

[Bees Knees]

Disaster losses that are not itemized are calculated on Schedule L of Form 1040 (the 2009 Standard Deduction). However, the net disaster loss deduction added to the standard deduction expired at the end of 2009, and Congress has yet to extend the provision for 2010 federal disasters.

[Kram BergGold]

Thanks but...

It was just pointed out to me that the March 11 flooding losses can be claimed on a 2009 amended return so we can get these by filing amended returns if the law is not extended.