Per the IRS Instructions for Schedule A, page A-11:

Casualty and Theft Losses
Line 15

Complete and attach Form 4684 to figure the amount of your loss. Only enter the amount from Form 4684, line 18, on line 15.

CAUTION! Don't enter a net qualified disaster loss from Form 4684, line 15, on line 15. Instead, enter that amount, if any, on line 16. See Line 16, later, for information about reporting a net qualified disaster loss.

You can only deduct personal casualty and theft losses resulting from a federally declared disaster to the extent that:

1. The amount of each separate casualty or theft loss is more than $100, and
2. The total amount of all losses during the year (reduced by the $100 limit discussed in (1)) is more than 10% of the amount on Form 1040, line 7.

To review or modify these entries in your TaxAct® return:

1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal.
2. Click Itemized or Standard Deductions to expand the category and then click Casualty or theft losses in the Federal Quick Q&A Topics menu
3. Click Yes to review or modify entries for casualty and theft
4. The program will proceed with the interview questions for you to enter or review the appropriate information

Note. Once information has been entered into this section of the Q&A, when accessing this section again and clicking Yes on the first screen, you would need to click New Copy of Form 2684 Section A (Desktop users click Add) to create a new copy of the form or Review to review a form already created.

TaxAct will use the higher of your Itemized Deductions or the Standard Deduction for your filing status to maximize the tax benefit to you. If you do not itemize deductions you cannot take the casualty and theft deduction and Form 4684 will not print with your return; however, you can print just that form to review the calculations if you wish.

If you have a casualty loss from a disaster that occurred in an area declared by the President to be a federal disaster area, refer to IRS Publication 547 for more information. In the case of a federally declared disaster, an affected taxpayer can call 1-866-562-5227 to speak with an IRS specialist trained to handle disaster-related issues. For additional information refer to the IRS website on the latest information for Taxpayers in Disaster Areas.