Do I have to pay tax on grants under the Disaster Relief Act of 1974?
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| Grants under the Disaster Relief Act of 1974 to help victims of natural disasters are
not included in taxable income on your tax return. They are treated as a reimbursement that reduces your
tax deductible loss on your tax return. You may not deduct on your tax return casualty losses or medical expenses that are specifically
reimbursed by these disaster relief grants. |
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Related tax
information about Disaster Relief Act grants |
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Declared Disaster
Areas
Disaster unemployment assistance payments
Casualty and Theft
Losses
Involuntary Conversions
Income Related Questions and Answers |
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IRS publications about
Disaster Relief Act grants:
For additional information on disaster area losses (including flood losses),
refer to Tax Topic 515, or
IRS Publication 547, Casualties,
Disasters and Thefts (Business and Non-Business). IRS Publication 584, Nonbusiness
Disaster, Casualty, and Theft Loss Workbook, can be used to help you catalog your
property. Also see IRS Publication
17, Your Federal Income Tax. |
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Ask Julian Block your IRS and tax questions! |
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If you can't find the answer to your IRS or tax question in our
web you can call former IRS Special Agent and one of the country's foremost tax attorneys, nationally syndicated columnist ("The Tax
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