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turbojad
New Member

I tried to enter theft of cash under casualty loss and it was not accepted. I had switched to Itemized deductions. What is wrong?

The amount of the loss was $57,000.

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1 Reply
HelenaC
New Member

I tried to enter theft of cash under casualty loss and it was not accepted. I had switched to Itemized deductions. What is wrong?

The deduction for personal casualty or theft losses has been suspended (eliminated) through tax year 2025, unless the loss occurred in a federally-declared disaster area and was directly caused by the disaster.

See Which federal tax deductions have been suspended by tax reform?

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