Carl
Level 15

Deductions & credits

Just work it through the Casualty and Thefts section under the Deductions and Credits tab (when you get to it). You'll see how it works then. Basically, you'll claim the entire amount of the "loss", then you'll be asked for any insurance/reimbursement payouts you received, which will offset your loss. If you do it right, your "allowed loss" will amount to your deductible.