Theft losses may be deductible. See the updated Jan 2022 version Topic No. 515 Casualty, Disaster, and Theft Losses - Internal Revenue Service for full details. Which includes:
Theft Losses
A theft is the taking and removal of money or property with the intent to deprive the owner of it. The taking must be illegal under the law of the state where it occurred and must have been done with criminal intent. The amount of your theft loss is generally the adjusted basis of your property because the fair market value of your property immediately after the theft is considered to be zero.
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