Yes, You may
be able to claim a casualty loss for the fraud. You can only deduct your
losses that exceed 10% of your AGI+$100. In addition, it is an itemized
deduction. If you usually take the standard deduction, you'll have to now find
additional itemized deductions to exceed the standard deduction.
When needing to enter Casualty and Theft Events in the TurboTax program:
To report the Casualty or Event in TurboTax Online, please
do the following:
- Sign into your Online account
- Click the
blue button that says "Take me to
my return."
- Click Federal on the left-hand side panel.
- Click
on Deductions & Credits at
the top of the page.
- Scroll
down and click on "more deductions"
- Click "See list of all tax deductions"
- Scroll
down to Other Deductions, click Show More, next, check the box
to answer: Did you have anything
stolen or damaged in 2017?
For more info, see:
http://www.irs.gov/pub/irs-pdf/i4684.pdf
