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Changes to 2013 Forms

Updates to the Form 3805V Instructions on 01/10/2014 –– Instructions for 3805V Form, Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitations - Individuals, Estates, and Trusts

We replaced text on Page 5, Column 2, Designated Disasters chart.


Previous Version

Designated Disasters

Year Code Event
2011 51 Los Angeles and San Bernardino County Severe Winds 11/11***

Revised Version

Designated Disasters

Year Code Event
2013 52 Tuolumne, Mariposa, and San Francisco Counties Rim Fire 08/13 to 10/13**
2011 51 Los Angeles and San Bernardino County Severe Winds 11/11***

Reason for the changes

The President declared a major disaster for Tuolumne, Mariposa, and San Francisco counties affected by the Rim Fire that occurred during the period of August 17, 2013 to October 24, 2013. No special state legislation was enacted.

Taxpayers can claim the disaster loss deduction in the taxable year in which the disaster occurred or in the taxable year immediately before the disaster occurred.

Impact

If the taxpayers claim the disaster loss deduction, the taxable income for tax purposes will decrease, which will result in a decrease in the tax liability.

Back to Tax Form Changes for 2013