Can I claim a loss on a rv that burnt down and was not insured

[DS30 · Accepted solution]

Yes, you would be able to claim a casualty loss for your RV.

If you have no insurance, then the entire replacement cost will be considered the amount of the casualty loss.

A casualty loss is damage, destruction, or property loss resulting from one of these identifiable events:

• Sudden event -- swift, rather than gradual or progressive
• Unexpected event -- ordinarily unanticipated and unintended
• Unusual event -- not a day-to-day occurrence

So, you can only deduct losses not reimbursed or reimbursable by insurance or other means. You'll need to subtract $100 from each casualty loss of personal property. The total of your casualty and theft losses on personal property must be more than 10% of your adjusted gross income (AGI) in order for it to be deductible.

Here is a link for additional information about reporting your casualty loss: Casualties, Disasters and Theft and Casualty Deductions for Federal Income Tax

To enter this transaction in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "casualty loss" in the search bar then select "jump to casualty loss". TurboTax will guide you in entering this information.