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Deductions & credits
Unfortunately, the deduction for personal casualty or theft losses has been repealed in tax years 2018 – 2025, unless the loss occurred in a federally-declared disaster area.
Previously, uninsured losses exceeding $100 due to fire, theft, or natural disaster could be deducted if the total loss amount exceeded 10% of the AGI, regardless of location.
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June 4, 2019
8:20 PM