Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Jul 22, 2020 4:21:55 PM

If I had total car loss in 2020, could I claim this in my taxes that I file for next year in 2021?

0 2 366
2 Replies
Level 15
Jul 22, 2020 4:25:57 PM

If the vehicle was not used in a business, No.

Casualty and theft losses are not deductible on a federal tax return unless the loss occurred in a federally declared disaster area.

Not applicable
Jul 22, 2020 4:32:21 PM

if it was a business loss it was deductible in 2020 not 2021