I was not directly affected by the Eaton Fire. I live in Los Angeles County which was Declared a Disaster Area. Because of imminent danger of fires happening, my power was and is still shut off (3 weeks now). I had food spoil which created a loss. Does food qualify as part of Casualty Loss on my taxes? How can I find out if I qualify to claim this deduction on my Schedule A? NOTE: I do not have home insurance.
If you live in a federally declared disaster area, you can claim a casualty loss on household items without itemizing your deductions to the extent the loss is over $500. Food would qualify as a household item, however your deduction is based on the fair market value of your food, not what you paid for it. Since food you purchased would not normally have a high re-sale value and it would be difficult to document it's fair market value, if you did take a deduction it may not sustain an audit.
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