I am filling out the casualty and theft worksheet. Asked for 'cost or other basis'. This is for car damage in a lot. I entered the original cost of the car. Correct?

I haven't done this form 4684 before. which covers casualty or theft event.

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Is this a car used in business? Casualty losses are not deductible on a federal return unless you are in a federal disaster area. Damage to your personal vehicle in a parking lot is not going to be deductible.

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