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.

spyderontheweb
Returning Member

Are expenses for theft of a car deductible, i did see in turbo tax where to answer

 
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.

1 Best answer

Accepted Solutions
MinhT
Expert Alumni

Are expenses for theft of a car deductible, i did see in turbo tax where to answer

The tax treatment of personal casualty losses and thefts is changed under the Tax Cuts and Jobs Act. 

Pursuant to the Tax Cuts and Jobs Act, the itemized deduction for personal casualty and theft losses is temporarily limited in tax years 2018 through 2025 solely to losses attributable to federally-declared disasters.

Your car theft is therefore no longer deductible.


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

View solution in original post

1 Reply
MinhT
Expert Alumni

Are expenses for theft of a car deductible, i did see in turbo tax where to answer

The tax treatment of personal casualty losses and thefts is changed under the Tax Cuts and Jobs Act. 

Pursuant to the Tax Cuts and Jobs Act, the itemized deduction for personal casualty and theft losses is temporarily limited in tax years 2018 through 2025 solely to losses attributable to federally-declared disasters.

Your car theft is therefore no longer deductible.


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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question