topic Yes, you can claim the casualty and loss on each item sto... in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208 <DIV> <P>Yes, you can claim the casualty and loss on each item stolen including anything being broken: Please follow steps below for data entry:</P> <OL> <LI>Federal Taxes</LI> <LI>Deductions &amp; Credits</LI> <LI>Scroll down to&nbsp;Other Deductions and Credits&nbsp;and select&nbsp;Casualties and Thefts</LI> </OL> <P><B>NOTE:</B>&nbsp;<SPAN><U>There are few rules that govern the Casualties and Thefts deduction and more often than not the actual deduction doesn't make much difference on your tax return</U>. First, the loss is deducted as part of your itemized deductions (you claim real estate tax, mortgage interest, state income tax, charity, etc.). &nbsp;Secondly, you must reduce your loss by proceeds received from your insurance. &nbsp;Thirdly, once you determine your actual loss, the loss is reduced by $100. &nbsp;Finally, after applying $100 reduction, your total casualty loss is reduced again by an amount that equals to 10% of your Adjusted Gross Income. &nbsp;Only then, the net result (the remaining amount) is then taken as your deduction on your tax return.&nbsp;</SPAN></P> </DIV><BR /> Tue, 04 Jun 2019 20:59:52 GMT RebeccaC 2019-06-04T20:59:52Z Can I deduct for my car being broken into https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-for-my-car-being-broken-into/01/417982#M53207 Tue, 04 Jun 2019 20:59:50 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-for-my-car-being-broken-into/01/417982#M53207 langley2008 2019-06-04T20:59:50Z Yes, you can claim the casualty and loss on each item sto... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208 <DIV> <P>Yes, you can claim the casualty and loss on each item stolen including anything being broken: Please follow steps below for data entry:</P> <OL> <LI>Federal Taxes</LI> <LI>Deductions &amp; Credits</LI> <LI>Scroll down to&nbsp;Other Deductions and Credits&nbsp;and select&nbsp;Casualties and Thefts</LI> </OL> <P><B>NOTE:</B>&nbsp;<SPAN><U>There are few rules that govern the Casualties and Thefts deduction and more often than not the actual deduction doesn't make much difference on your tax return</U>. First, the loss is deducted as part of your itemized deductions (you claim real estate tax, mortgage interest, state income tax, charity, etc.). &nbsp;Secondly, you must reduce your loss by proceeds received from your insurance. &nbsp;Thirdly, once you determine your actual loss, the loss is reduced by $100. &nbsp;Finally, after applying $100 reduction, your total casualty loss is reduced again by an amount that equals to 10% of your Adjusted Gross Income. &nbsp;Only then, the net result (the remaining amount) is then taken as your deduction on your tax return.&nbsp;</SPAN></P> </DIV><BR /> Tue, 04 Jun 2019 20:59:52 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208 RebeccaC 2019-06-04T20:59:52Z
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
<channel>
<title>
topic Yes, you can claim the casualty and loss on each item sto... in Deductions & credits
</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208
</link>
<description>
<DIV> <P>Yes, you can claim the casualty and loss on each item stolen including anything being broken: Please follow steps below for data entry:</P> <OL> <LI>Federal Taxes</LI> <LI>Deductions &amp; Credits</LI> <LI>Scroll down to&nbsp;Other Deductions and Credits&nbsp;and select&nbsp;Casualties and Thefts</LI> </OL> <P><B>NOTE:</B>&nbsp;<SPAN><U>There are few rules that govern the Casualties and Thefts deduction and more often than not the actual deduction doesn't make much difference on your tax return</U>. First, the loss is deducted as part of your itemized deductions (you claim real estate tax, mortgage interest, state income tax, charity, etc.). &nbsp;Secondly, you must reduce your loss by proceeds received from your insurance. &nbsp;Thirdly, once you determine your actual loss, the loss is reduced by $100. &nbsp;Finally, after applying $100 reduction, your total casualty loss is reduced again by an amount that equals to 10% of your Adjusted Gross Income. &nbsp;Only then, the net result (the remaining amount) is then taken as your deduction on your tax return.&nbsp;</SPAN></P> </DIV><BR />
</description>
<pubDate>Tue, 04 Jun 2019 20:59:52 GMT</pubDate>
<dc:creator>RebeccaC</dc:creator>
<dc:date>2019-06-04T20:59:52Z</dc:date>
<item>
<title>Can I deduct for my car being broken into</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-for-my-car-being-broken-into/01/417982#M53207
</link>
<description/>
<pubDate>Tue, 04 Jun 2019 20:59:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/can-i-deduct-for-my-car-being-broken-into/01/417982#M53207
</guid>
<dc:creator>langley2008</dc:creator>
<dc:date>2019-06-04T20:59:50Z</dc:date>
</item>
<item>
<title>
Yes, you can claim the casualty and loss on each item sto...
</title>
<link>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208
</link>
<description>
<DIV> <P>Yes, you can claim the casualty and loss on each item stolen including anything being broken: Please follow steps below for data entry:</P> <OL> <LI>Federal Taxes</LI> <LI>Deductions &amp; Credits</LI> <LI>Scroll down to&nbsp;Other Deductions and Credits&nbsp;and select&nbsp;Casualties and Thefts</LI> </OL> <P><B>NOTE:</B>&nbsp;<SPAN><U>There are few rules that govern the Casualties and Thefts deduction and more often than not the actual deduction doesn't make much difference on your tax return</U>. First, the loss is deducted as part of your itemized deductions (you claim real estate tax, mortgage interest, state income tax, charity, etc.). &nbsp;Secondly, you must reduce your loss by proceeds received from your insurance. &nbsp;Thirdly, once you determine your actual loss, the loss is reduced by $100. &nbsp;Finally, after applying $100 reduction, your total casualty loss is reduced again by an amount that equals to 10% of your Adjusted Gross Income. &nbsp;Only then, the net result (the remaining amount) is then taken as your deduction on your tax return.&nbsp;</SPAN></P> </DIV><BR />
</description>
<pubDate>Tue, 04 Jun 2019 20:59:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/yes-you-can-claim-the-casualty-and-loss-on-each-item-sto/01/417990#M53208
</guid>
<dc:creator>RebeccaC</dc:creator>
<dc:date>2019-06-04T20:59:52Z</dc:date>
</item>
</channel>
</rss>