Sorry, unless this was a vehicle used for business. Personal casualty and theft losses of
an individual, sustained in a tax year beginning
after 2017, are deductible only to the extent
they’re attributable to a federally declared disaster. The loss deduction is subject to the $100
limit per casualty and 10% of your adjusted
gross income (AGI) limitation.
An exception to the rule above, limiting the
personal casualty and theft loss deduction to
losses attributable to a federally declared disaster, applies if you have personal casualty gains
for the tax year. In this case, you will reduce
your personal casualty gains by any casualty
losses not attributable to a federally declared
disaster. Any excess gain is used to reduce losses from a federally declared disaster. The 10%
AGI limitation is applied to any remaining losses
attributable to a federally declared disaster
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