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February 28, 2024
Question

Is a stolen car deductible?

  • February 28, 2024
  • 1 reply
  • 0 views

We had a vehicle stolen in California while we were on vacation.  No insurance claim was filed because the vehicle wasn't worth that much. Can I claim any of the loses on my taxes? We had to rent a car and buy new car seats to even get home. We also lost some property in the vehicle. 

    1 reply

    Employee
    February 28, 2024

    Sorry--no.   Casualty losses and thefts are not deductible on a federal tax return since the tax laws changed for 2018 and beyond.   Only disaster losses related to being in a federal disaster area can be deducted.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**