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New Member
posted Jun 4, 2019 5:36:59 PM

Can i expense credit monitoring fees on my personal tax return if I am a victim of identity theft in which false tax returns were filed using my name an SS#

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1 Best answer
Level 7
Jun 4, 2019 5:37:04 PM

Generally, credit monitoring fees are considered a personal expense, and therefore not deductible.

You can, however, deduct losses because of identity theft to the extent you are not reimbursed or compensated for the loss.

[Edited, 03/11/2018, 07:35 pm EST]

2 Replies
Level 7
Jun 4, 2019 5:37:04 PM

Generally, credit monitoring fees are considered a personal expense, and therefore not deductible.

You can, however, deduct losses because of identity theft to the extent you are not reimbursed or compensated for the loss.

[Edited, 03/11/2018, 07:35 pm EST]

Level 7
Aug 30, 2019 8:03:21 PM

In the newest tax law act  personal losses are not deductible any longer unless in a federal disaster area+

For tax years 2018 through 2025, if you are an individual, losses of personal-use property from fire, storm, shipwreck, or other casualty, or theft are deductible only if the loss is attributable to a federally declared disaster (federal casualty loss).Jan 24, 2019