If your property was damaged or destroyed as a result of the September 11 attacks, you can choose to deduct your disaster loss on your 2000 return (or amended return) rather than on your 2001 return.
You must make this choice to deduct your loss on your 2000 return by the later of the following dates.
- The due date (without extensions) for filing your 2001 income tax return (April 15, 2002, if you are a calendar year taxpayer).
- The due date (with extensions) for the 2000 return.
For more information about disaster area losses, see Publication 547.