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nyla29061
January 29, 2025
Question

my food truck was stolen from GA i live in SC.. could i use this for a out of state lost

  • January 29, 2025
  • 1 reply
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    1 reply

    M
    MinhT1
    January 29, 2025

    You cannot claim this loss on your tax return.

     

    The tax treatment of personal casualty losses and thefts is changed under the Tax Cuts and Jobs Act. Pursuant to the TCJA, the itemized deduction for personal casualty and theft losses is temporarily limited in tax years 2018 through 2025 solely to losses attributable to federally-declared disasters.

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