IRS Tax Tip: What to Do to Reconstruct Financial Records After a Natural Disaster (IRC §165)

To prove financial losses in the wake of a natural disaster where important records were destroyed, taxpayers can reconstruct the records by taking certain actions as applicable, the IRS stated. For free tax return transcripts, use Get Transcript on irs.gov or call 800-908-9946. For credit or debit card statements, go to the card issuer’s website or contact the issuer to get hard copies. Homeowners can contact the company or bank that handled the home transaction and the contractor that did home improvement work. For inherited property, check court records for probate values, contact the estate attorney, or check the county ...