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January 18, 2020
Question

Can I deduct expenses related to a break in/theft?

  • January 18, 2020
  • 2 replies
  • 0 views
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2 replies

DoninGA
Employee
January 18, 2020

Casualty and theft losses are no longer deductible on a federal tax return except for those losses incurred in a Federally declared disaster area.

January 18, 2020

if it is business related, then yes, but only to the extent not covered by insurance.  otherwise DonnaGA is correct.