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Level 2
February 22, 2020
Solved

stolen jeweries

  • February 22, 2020
  • 3 replies
  • 15 views

how to deduct jewelries stolen in a burglary? I filled up Form 4684 but am not able to come up with the deductions.

This topic has been closed for replies.
Best answer by Just-Lisa-Now-

They took away casualty/theft losses with TCJA in 2018...only federally declared disaster losses are allowed now.

3 replies

Just-Lisa-Now-
Intuit Community Champion
February 22, 2020

They took away casualty/theft losses with TCJA in 2018...only federally declared disaster losses are allowed now.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Lito12-_Author
Level 2
February 22, 2020

What is TCJA 2018? Thank you.

 

Just-Lisa-Now-
Intuit Community Champion
February 22, 2020

The Tax Cuts and Jobs Act that went into effect for 2018?   Are you a new preparer?  This should have been covered in your continuing education that you participated in throughout the year.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪