If you itemize deductions, then you may qualify to claim a casualty and theft loss deduction on Schedule A. In order to benefit by itemize deductions, your total itemized deductions must be higher than your standard deduction. Please view the Turbo tax FAQ below for more information.
https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Tax-Deduction-Wisdom---Sho...
https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/How-to-Maximize-Your-Itemi...
Please view the Turbo Tax FAQ below for more information about the casualty deduction.
https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/About-Casualty-Deduction-f...
