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bettylchi
New Member

My car was stolen in 2007. It was a 2002 vehicle worth $17000. I filed a police and insurance report. However I never reported in on my taxes. Ins gave me $0

The insurance company claimed that the circumstances surrounding the theft were unusual so they invoked a right in the contract paying me $0. S I lost $17000 total. Can I file that loss today or has the statute of limitations expired? What should I do? For this year, I could really use that tax deduction

1 Reply
MaryK1
Level 9

My car was stolen in 2007. It was a 2002 vehicle worth $17000. I filed a police and insurance report. However I never reported in on my taxes. Ins gave me $0

No, you cannot claim the loss in 2016.    You can deduct theft losses that aren't reimbursable only in the year you discover your property was stolen.

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