You can claim your loss as a casualty and theft loss.
From the loss, you will deduct first $100, then deduct 10% of your adjusted gross income to arrive at the allowable loss. TurboTax will make all the calculations for you.
To enter your loss in TurboTax, please follow these steps:
- Click on Search on the top right of your screen
- In the search box, type casualty loss
- In the search result page, click on Jump to Casualty loss
- TurboTax will take you through a questionnaire where you can enter the details of your loss
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