A casualty loss is the loss or damage of property from a presidentially declared disaster.
![]() |
Oh no! We may not fully support the browser or device software you are using ! To experience our site in the best way possible, please update your browser or device software, or move over to another browser. |
Casualty and Theft Losses
Claiming disaster losses on your taxes
Can I claim casualty and theft loss deductions on my tax return?
The TCJA changed these rules about casualty losses. Between the 2018 and the 2025 tax years, the ability to claim any theft losses and every casualty loss has been eliminated. However, you can still deduct qualified disaster-related casualty losses if they occur within a federally declared disaster area – like the aftermath of a flood, fire, hurricane, or tornado. To calculate the deduction during this time, you do not have to itemize deductions and subtract $100 per loss and 10% of AGI. Instead, subtract $500 from each major disaster and add the loss to your standard deduction if you aren’t itemizing deductions.
Prepare for a potential disaster loss now.
Make an inventory list of all the items in your home, or video all your belongings inside and the outside of your home and your vehicles, or do both. Make sure you either save a copy by:
-
Uploading the video and/or inventory list to a cloud storage account,
-
Giving it to a trusted family member or friend
-
Putting it in a safety deposit box in a different area
Make sure your insurance is up to date, and be sure to have a go-bag ready. This is a waterproof bag with important documents such as birth certificates, Social Security cards, marriage licenses, passports, and even divorce decrees. There are many other papers that you can put into this go-bag, but most can easily be accessed via an online account such as your insurance information.

When every dollar matters, it matters who does your taxes™
-
WE SEE YOU
Our Tax Pros will connect with you one-on-one, answer all your questions, and always go the extra mile to support you.
-
WE GOT YOU
We have flexible hours, locations, and filing options that cater to every hardworking tax filer.
-
GUARANTEED
We’ve seen it all and will help you through it all. 40 years of experience and our guarantees back it up.