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2 replies

KochuK
Level 7
September 27, 2023

Hi xhoul88,

 

You can select "Do it for me" button while on TurboTax Online to have a credential expert prepares your tax return.

 

The following links provide some insight regarding "Theft" loss.

Pub 547 Casualties, Disasters, and Thefts, page 4

https://www.irs.gov/pub/irs-pdf/p547.pdf

Pub 584 Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property)

https://www.irs.gov/pub/irs-pdf/p584.pdf

If applicable, the theft loss is reported on:

Form 4684 Casualties and Thefts and instructions

https://www.irs.gov/pub/irs-pdf/f4684.pdf

https://www.irs.gov/pub/irs-pdf/i4684.pdf

 

Hope the above helps. Thank you.

Kochu Kitty

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Level 6
September 27, 2023

Hi There

 

Sorry to say but personal theft losses are no longer deductible.  Currently, the only provision for casualty losses are those attributed to a federally declared disaster area. BTW, business theft is still deductible.

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