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Level 3
posted Feb 8, 2022 8:10:02 AM

Casualty loss deduction - not calculating?

I added a casualty loss of funds due to fraud, its well above 10% of my AGI. But my refund doesn't change after adding that loss, what could be the issue? Am I missing something?

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1 Replies
Level 15
Feb 8, 2022 8:11:47 AM

The tax laws that changed for 2018 and beyond eliminated a federal deduction for theft loss.

 

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-reform