Publication 547
taxmap/pubs/p547-003.htm#en_us_publink1000225220To deduct a casualty or theft loss, you must be able to show
that there was a casualty or theft. You also must be able to support the amount
you take as a deduction.
taxmap/pubs/p547-003.htm#en_us_publink1000225221For a casualty loss, you should be able to show all the following.
- The type of casualty (car accident, fire, storm, etc.) and
when it occurred.
- That the loss was a direct result of the casualty.
- That you were the owner of the property, or if you leased
the property from someone else, that you were contractually liable to the owner
for the damage.
- Whether a claim for reimbursement exists for which there is
a reasonable expectation of recovery.
For a theft loss, you should be able to show all the following.
- When you discovered that your property was missing.
- That your property was stolen.
- That you were the owner of the property.
- Whether a claim for reimbursement exists for which there is
a reasonable expectation of recovery.
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It is important that you have records that will prove your deduction. If you do
not have the actual records to support your deduction, you can use other
satisfactory evidence to support it.
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