Can You Tax Deduct Stolen Jewelry? IRS Guidelines on Theft Losses and Deductions
Yes, you can deduct theft losses, but jewelry theft is not deductible under IRS guidelines from 2018-2025, unless it’s business property. To claim a theft loss, use IRS Form 4684 and meet the eligibility requirements. Always consult a tax professional for accurate advice on your federal income tax. You can calculate the stolen jewelry’s fair … Read more