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Get your taxes done using TurboTax
You’re no longer allowed to deduct such losses.
The deduction for personal casualty or theft losses has been eliminated for Tax Year 2018 through Tax Year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.
Please see Limitation on personal casualty and theft losses in the 2021 Instructions for Form 4684 for more information.
March 22, 2022
5:15 AM