Deductions and credits for disasters and theft

[MayaD]

With the new tax law, you can only take the deduction if the damage was a result of a natural disaster, and you live in a federally declared disaster area .

To access form 4684 ( Casualty and Theft worksheet) follow the steps below:

1. Log in to your account.
2. Go to Federal Taxes.
3. Go to Deductions and Credits.
4. Scroll down to Other Deductions and Credits and click show more.
5. Click start next to Disasters, theft, and other property loss or damage.

[jaimeeellis1976]

would i be able to use it somewhere else? why is theft ok but a call box not the road is not? i had to pay a minimum of 7500 out of pocket can this be used as a deduction any where else?

[JohnW222]

Unfortunately, there’s no place you can legally claim your loss. 

Just so you don’t misunderstand, theft can’t be claimed as a deduction, either.  The recent tax law changes were very specific:  The deduction for personal casualty or theft losses has been eliminated through tax year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.