I want to know how I can receive a deduction for the loss of my totaled car, and belongings lost due to a car accident (I only had liability ins).

c-f27 · ‎February 3, 2023

My online search said that I could on my Federal return but I didn't see any section to put the information. I lost an older car but KBB FMV was around $4000, eye glasses, groceries, cds and laundry as a result of either damage or them being held hostage by the towing company.

xmasbaby0 · ‎February 3, 2023

Sorry....casualty losses are not deductible on your federal tax return. The tax laws that changed for 2018 and beyond eliminated casualty losses except for losses that happened in a federal disaster area.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

c-f27 · ‎February 3, 2023

TY for your time- much appreciated.

Expert does your taxes

Do it yourself

Resources

Support

I want to know how I can receive a deduction for the loss of my totaled car, and belongings lost due to a car accident (I only had liability ins).