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New Member
posted Jun 1, 2019 1:16:08 PM

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

0 2 310
2 Replies
Level 15
Jun 1, 2019 1:16:09 PM

No insurance?

New Member
Jun 1, 2019 1:16:11 PM

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The deduction for personal casualty or theft losses has been repealed in tax years 2018 – 2025, unless the loss occurred in a federally-declared disaster area.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