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You can claim Casualty and Theft Losses (less insurance reimbursements and less $100) up to the amount of your taxable income, which will reduce your taxable income.
A brief IRS Tax Topic can be found here: Theft and Casualty Losses - IRS
See below for instructions on how to enter in TurboTax:
You can claim Casualty and Theft Losses (less insurance reimbursements and less $100) up to the amount of your taxable income, which will reduce your taxable income.
A brief IRS Tax Topic can be found here: Theft and Casualty Losses - IRS
See below for instructions on how to enter in TurboTax:
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