Losses You Can Deduct
For tax years 2018 through 2025, if you are an individual, losses of personal-use property from fire, storm, shipwreck, or other casualty, or theft are deductible only if the loss is attributable to a federally declared disaster If you suffered a qualified disaster loss, you are eligible to claim a casualty loss deduction in the year it occurred or to elect to claim the loss in the preceding tax year
