For federal purposes, you can no longer claim an itemized deduction for a casualty or theft loss unless it is the result of a federally declared disaster. For New York purposes (Form IT-196, line 20), you can claim casualty and theft losses. See NY Casualty & Thefts
Nondeductible losses. A casualty loss isn't deductible if the damage or destruction is caused by the following:
- A car accident if your willful negligence or willful act caused it.
- The same is true if the willful act or willful negligence of someone acting for you caused the accident.
- Progressive deterioration
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