Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
jbruzzes
New Member

Totaled my car last year and had no collision coverage, can i deduct this?

This was a personal car not used for business.

1 Best answer

Accepted Solutions
KatrinaB
Intuit Alumni

Totaled my car last year and had no collision coverage, can i deduct this?

If you itemize deductions, then you may qualify to claim a casualty and theft loss deduction on Schedule A. In order to benefit by itemize deductions, your total itemized deductions must be higher than your standard deduction. Please view the Turbo tax FAQ below for more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Tax-Deduction-Wisdom---Sho...

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/How-to-Maximize-Your-Itemi...

Please view the Turbo Tax FAQ below for more information about the casualty deduction.

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/About-Casualty-Deduction-f... 

View solution in original post

1 Reply
KatrinaB
Intuit Alumni

Totaled my car last year and had no collision coverage, can i deduct this?

If you itemize deductions, then you may qualify to claim a casualty and theft loss deduction on Schedule A. In order to benefit by itemize deductions, your total itemized deductions must be higher than your standard deduction. Please view the Turbo tax FAQ below for more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Tax-Deduction-Wisdom---Sho...

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/How-to-Maximize-Your-Itemi...

Please view the Turbo Tax FAQ below for more information about the casualty deduction.

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/About-Casualty-Deduction-f... 

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v