topic car accident lost in State tax filing

car accident lost

doremi33 — Tue, 25 Mar 2025 03:22:58 GMT

I have my personal car. It is totaled from hit and run accidental. I see only business relate auto can get deduction. Is any way claim in New York or Federal for the loss?

Re: car accident lost

Mike9241 — Tue, 25 Mar 2025 03:27:59 GMT

Federal no deduction for a personal casualty loss not involving property in a federally declared disaster area. someone else will have to supply the answer for NY

Re: car accident lost

DawnC — Tue, 25 Mar 2025 03:52:53 GMT

For federal purposes, you can no longer claim an itemized deduction for a casualty or theft loss unless it is the result of a federally declared disaster. For New York purposes (Form IT-196, line 20), you can claim casualty and theft losses. See NY Casualty & Thefts

Nondeductible losses. A casualty loss isn't deductible if the damage or destruction is caused by the following:

A car accident if your willful negligence or willful act caused it.
The same is true if the willful act or willful negligence of someone acting for you caused the accident.
Progressive deterioration