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There is an itemized deduction for a casualty loss or a designated disaster area. This total loss amount (reduced by insurance payments, if any) is first limited by $100 and 10% of your Adjusted Gross Income (AGI- a subtotal on your return). It sounds like your loss might qualify for the deduction, but the event should be considered a casualty, theft or in a disaster area to qualify.
The IRS defines Casualty Loss as:
Casualty Losses - A casualty loss can result from the damage, destruction, or loss of your property from any sudden, unexpected, or unusual event such as a flood, hurricane, tornado, fire, earthquake, or volcanic eruption. A casualty doesn't include normal wear and tear or progressive deterioration.
To enter your loss, follow the steps at the FAQYou can learn more at the IRS here: https://www.irs.gov/taxtopics/tc515.html
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