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posted Jan 18, 2020 10:20:18 AM

Can I deduct expenses related to a break in/theft?

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2 Replies
Level 15
Jan 18, 2020 10:29:12 AM

Casualty and theft losses are no longer deductible on a federal tax return except for those losses incurred in a Federally declared disaster area.

Not applicable
Jan 18, 2020 10:38:35 AM

if it is business related, then yes, but only to the extent not covered by insurance.  otherwise DonnaGA is correct.