I have an Adjusted gross Income of $196.435.00
why my theft loss of $ 266,600.00 personal loss did not change the refund/ payment amount on my taxes
I am doing a schedule A. by my calculation of I should be getting to write off either $26,660.00 or $19,643.50 minus $100.
I have tried to enter this several times and every time it comes out as 0 or no entry on the turbo tax print out.
For tax years 2018 through 2025, you can no longer claim casualty and theft losses on personal property as itemized deductions, unless your claim is caused by a federally declared disaster.
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