My new custom enclosed car trailer was stolen; NO ins pymt. AGI allowed amt is higher than FMV, netting 0.00 allowed. Can this $ loss be factored in and deducted somehow?

1978kingcobra · ‎June 1, 2019

Leonard · ‎June 1, 2019

Was the trailer used as part of a business?

1978kingcobra · ‎June 1, 2019

No, I bought it to take one of my cars to car shows. It was never used as it was stolen before my car returned from restoration.

xmasbaby0 · ‎June 1, 2019

Unfortunately, casualty losses and thefts are not deductible on your 2018 federal return since the new tax law became effective for 2018 returns.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

**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.**

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My new custom enclosed car trailer was stolen; NO ins pymt. AGI allowed amt is higher than FMV, netting 0.00 allowed. Can this $ loss be factored in and deducted somehow?