turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

doremi33
New Member

car accident lost

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

car accident lost

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

DawnC
Employee Tax Expert

car accident lost

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
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question