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I claim the loss of my Truck that was totaled by another driver last year?
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June 4, 2019
6:41 PM
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Deductions & credits
Generally, you can deduct some of the loss on your vehicle from an accident. Just remember: If the car's covered by insurance, the amount of loss will be reduced by any insurance reimbursement.
This loss is called a "casualty loss" – damage, destruction or loss of property from a sudden, unexpected or unusual event. TurboTax will let you explore itemized deductions to see if it is right for your situation.
- Type "casualty loss" in your program's search box.
- Select the "Jump to" link in the search results.
- Follow the onscreen instructions.
June 4, 2019
6:41 PM