The IRS announced tax relief for dozens of federally declared disaster areas in 2023. If you live or work in one of those areas, you generally can deduct related losses on your 2023 return. As an alternative, you can deduct losses on the preceding year’s return. If you choose the latter option and have already filed a 2022 return, you’ll need to amend it. However, be aware of the deadlines. Generally, for a credit or refund, you must file an amended return within three years (including extensions) after the date you filed the original return or within two years after the date you paid the tax, whichever is later. Areas eligible for 2023 disaster relief: https://bit.ly/3udpiT2
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