My car was stolen and I had to pay over what I owed on it, can I deduct?

[xmasbaby0]

So sorry---but theft losses are not deductible on a federal tax return.

[MindyB]

No, you usually cannot deduct the loss of a stolen personal vehicle on your federal taxes. Since the Tax Cuts and Jobs Act of 2017, personal theft losses are only deductible if they occur within a federally declared disaster area. 

However, if the car was used for business purposes, the loss could be deductible as a business expense. Otherwise, the out-of-pocket cost is unfortunately considered a non-deductible personal expense.