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Level 1
January 19, 2024
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Why is my loss from theft showing $0? Form 4684 completed manually shows an amount greater than $0.

  • January 19, 2024
  • 1 reply
  • 18 views
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Best answer by DoninGA

A casualty or theft loss is not deductible on a federal tax return, unless it occurred during a federally declared natural disaster.  Some states allow this deduction so it will be reported on your state tax return if eligible.

1 reply

DoninGA
Level 15
DoninGALevel 15Answer
Level 15
January 19, 2024

A casualty or theft loss is not deductible on a federal tax return, unless it occurred during a federally declared natural disaster.  Some states allow this deduction so it will be reported on your state tax return if eligible.