IRS encourages thorough documentation
People affected by Southern California wildfires are encouraged to thoroughly document property losses as they return to homes that may be damaged or destroyed, according to a news release published today by the IRS.
The tax-collecting organization will provide more information on disaster relief and casualty loss next week.
For now, residents affected by the fires should compile the following:
* Before-and-after photographs
* Good records of expenses incurred while cleaning up (Note: damaged landscaping can be included while calculating casualty loss)
* A drawn-up floor plan of furnishings in the house
* A list of valued assets, with pictures and sales receipts
Also, those affected are encouraged to consider an appraisal for applicable damaged property.
More information on disaster relief is available at www.irs.gov.