Is total loss of a vehicle due to a factory defect deductible?
No reimbursement from insurance due to mechanical error.
011605
1 Replies
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Level 15
Apr 14, 2024 5:12:07 PM
You may deduct casualty and theft losses relating to your home, household items, and vehicles on your federal income tax return if the loss is caused by a federally declared disaster declared by the President. States vary.