Ref: Federal disaster declared Jan 8, 2025

On January 8, 2025, President Biden signed a major disaster declaration for the Los Angeles County wildfires.

If you experience a loss (after insurance settlement) you can claim a casualty loss on BOTH your federal and California returns. This is a complex calculation. Clients effected should contact us for more information. [Note that casualty losses NOT in a federal disaster area can be claimed only on the California return under current tax law].