IRS changed when you can debut a casualty (theft) loss ONLY when part of a declared federal disaster. In 2022, all my tools were stolen from my work truck. I work as a plumber and was not reimbursed by insurance. I'd like to deduct the theft using form 4684 and I believe that I can use the Covid-19 Pandemic which was a federally declared disaster (for CA this is DR-4482) to enable this deduction.
I don't see anything indicating I cannot do this - as I do live in the disaster area, and I did have a casualty loss....who knows, whoever stole it might have done it because of circumstances brought on by COVID. Does anyone know if there is guidance on this? Any help would be awesome!
