Question

Can I count my car as a deductible loss? It was destroyed in a flood without insurance and was valued at about $5,500

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It depends. According to: What if I have property that was lost or damaged (a casualty loss)? you may be able to deduct the value of the destroyed car (subtract any insurance received from the value), if you live in a federally declared disaster area.

To claim the deduction in TurboTax Online:

1. Upon opening TurboTax, choose Deductions & Credits

2. Scroll to Other Deductions and Credits

3. Start/Revisit "Disasters, theft, and other property loss or damage"

4. The interview will ask you questions to report the loss