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posted Apr 13, 2025 12:03:04 PM

I experience of my personal property that insurance denied. How do I file the loss?

I experience thief of my personal property that the insurance denied. How do I file this loss?

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1 Replies
Expert Alumni
Apr 13, 2025 12:09:31 PM

This loss is not deductible.

 

The tax treatment of personal casualty losses and thefts is changed under the Tax Cuts and Jobs Act. Pursuant to the TCJA, the itemized deduction for personal casualty and theft losses is temporarily limited in tax years 2018 through 2025 solely to losses attributable to federally-declared disasters.