H.R.1331 qualified disaster declaration for tax purposes
Why is no one talking about H.R.1331?
Congress recently passed legislation that treats Hurricane Ian as a qualified disaster for tax purposes. The legislation also applies to other hurricanes, including Idalia, Nicole, Fiona, Debby, Helene, and Milton.
For investors in Florida, Georgia, South Carolina and North Carolina this is huge. My accountant's office called me the other day and let me know that I could amend my 2022 tax return and claim losses due to Hurricane Ian to a primary residence property and a investment property. This is why I don't lament the fees I pay for this service.
Call your accountant if they have not called you.