I bought my home and I made a money transfer to a title company that stole my money. Can I report this loss as a property theft?

sanchezj1906 — Sat, 01 Jun 2019 17:49:57 GMT

Yes, to deduct a theft loss, you must itemize your deduct...

Marketstar — Sat, 01 Jun 2019 17:49:59 GMT

Yes, to deduct a theft loss, you must i temize your deductions on Schedule A. The amount of your deduction is limited to the amount of the loss that exceeds 10% of your Adjusted Gross Income after a $100 deductible

As an example if you had a $5,000 theft loss, and your Adjusted Gross Income is $40,000, your result would be as follows

After deducting $100, you are left with $4,900 which is $900 above 10% of your Adjusted Gross Income of $4,000.

Your deduction would therefore be $900

To deduct a theft loss:

· Type in theft loss in the search box, top right of your screen, click the

magnifying glass

· Click the jump to theft loss link in the search results

· Follow to prompts and online instructions

topic I bought my home and I made a money transfer to a title company that stole my money. Can I report this loss as a property theft? in Deductions & credits

I bought my home and I made a money transfer to a title company that stole my money. Can I report this loss as a property theft?

Yes, to deduct a theft loss, you must itemize your deduct...