Casualty, disaster, and theft losses

Generally, you may deduct casualty and theft losses relating to your home, household items, and vehicles on your federal income tax return due to a federally declared disaster area by the President. You may not deduct casualty and theft losses covered by insurance, unless you file a timely claim for reimbursement and you reduce the loss by the amount of any reimbursement or expected reimbursement—Read more at “Topic No. 515 Casualty, Disaster, and Theft Losses.” 23 August 2019