I had a personal theft loss of $40800 dollars in cash that was not deductible on my Federal Form, because it was not part of a Disaster. In the Turbo Tax step-by-step for calculating differences for the CA form, it states that "we have calculated that you have an additional personal casualty, theft and/or disaster loss of $24626. This amount is deductible on your California return even though it was not allowed on your federal return.
Question 1. On the Federal Form 4684 the $40800 was reduced by 10% of my adjusted gross income to $24626, even though $0 transferred to Schedule A, because it was not part of a Federally recognized disaster. Does that mean I can only use a deduction of $24626 on my California taxes also?
Question 2. Do I put the $24626 as a positive or negative number in the box for Casualty and Theft Losses from Personal Use Property Adjustment?
Thank you.
