This was a theft loss.
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It is very difficult to have a loss great enough to actually help you. There are two floors on the form itself. The first $100 doesn't count and next the 10% of AGI floor usually does not allow you to take the deduction. For example, you had a $3000 loss but your AGI is $40,000.
$3000-$100-$4000 is less than zero.
Even if you do manage to get a deduction there, you still must have enough to itemize. If your standard deduction ends up being more, the program will give you the more beneficial deduction.
It is very difficult to have a loss great enough to actually help you. There are two floors on the form itself. The first $100 doesn't count and next the 10% of AGI floor usually does not allow you to take the deduction. For example, you had a $3000 loss but your AGI is $40,000.
$3000-$100-$4000 is less than zero.
Even if you do manage to get a deduction there, you still must have enough to itemize. If your standard deduction ends up being more, the program will give you the more beneficial deduction.
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