Is uninsured theft loss tax deductible?

Answer You can deduct losses from theft even if you did not have insurance. The amount of your loss equals the smaller of fair market value or your cost basis in the stolen items. You must itemize your de... Read More »

Top Q&A For: Is uninsured theft loss tax deductible

Can you sue an uninsured person in an auto accident if they were at fault for your deductible and doctor bills?

Answeryou can sue anybody for anything . the magic question is can you win , if you do can you collect and will it cost less to win than the settlement will beThe answers of course depend on the si... Read More »

Are identity theft costs tax-deductible?

Only the money or property stolen from identity theft is tax-deductible, according to IRS Publication 547, if the theft took place "with the intent to deprive the owner of" the stolen item(s), with... Read More »

Do you have to pay the deductible when your car is damaged by a hit-and-run driver if you have uninsured motorist coverage?

%DETAILS% Answer This varies depending on your specific insurance company.. I am a claims adjuster for a California Insurance company. Our policy reads that as long as you have some sort of id for... Read More »

Is an IRA loss tax deductible?

Loss from an IRA account can be tax deductible, but there some stipulations. You must first withdraw your balances on all of your IRA accounts that are similar to the one that obtained the loss. Fo... Read More »