Can I use the sum total of items stolen as loss on my tax forms?

Asked 10 months ago - New Britain, CT

Items that I bought for sale were recently stolen from my car.can I use the sum total of these things lost on my tax form or returns?.any information would be hugely appreciated.

Attorney answers (2)

  1. Daniel Robert Hamad

    Contributor Level 15

    Answered . You should speak with your accountant about tax matters.

    This is not legal advice and is not intended to create an attorney-client relationship. The post is only an... more
  2. John James Morrison

    Contributor Level 8

    Answered . Theft losses are deductible. Your can protect your claimed deduction by getting a police report reflecting the stolen items and to have proof of the cost of each item stolen.

    John J. Morrison
    Chicago, Illinois

    No attorney-client relationship exists. IRS Circular 230 Notice: No advice in this communication, including any... more

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