Unfortunately, you're no longer allowed to deduct such a loss. The answers above are obsolete.
The deduction for personal casualty or theft losses has been suspended (eliminated) through Tax Year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.
Please see the TurboTax Help articles "What if I have property that was lost or damaged (a casualty loss)?" and “Can I deduct damage to my home?” for more information.
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