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csmeckle1
New Member

Can i claim a 7 carat diamond bracelet while on vacation, can i claim it on my tax form

 
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2 Replies

Can i claim a 7 carat diamond bracelet while on vacation, can i claim it on my tax form

No insurance?
MichaelMc
New Member

Can i claim a 7 carat diamond bracelet while on vacation, can i claim it on my tax form

I am assuming that you meant to say it was lost or stolen while on vacation?

I am sorry, but the loss is not deductible.

The deduction for personal casualty or theft losses has been repealed in tax years 2018 – 2025, unless the loss occurred in a federally-declared disaster area.

Previously, uninsured losses exceeding $100 due to fire, theft, or natural disaster could be deducted if the total loss amount exceeded 10% of the AGI, regardless of location.


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