Can I claim a deduction for the value of my Camry that was totalled after a hit and run?
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syk asked:
The 1992 Camry only had liability insurance so the insurance company didn’t pay. It was parked on the street. There was a police report. The car was worth almost $3,000. Turbo tax described it only has theft or disaster.
I itemize each year, with mort int + charitable deductions. I just found out from Kelly Blue Book that the car was worth $3,300 (good condition, not excellent). I got $200 from a junk yard that took the car.
Nancy
The 1992 Camry only had liability insurance so the insurance company didn’t pay. It was parked on the street. There was a police report. The car was worth almost $3,000. Turbo tax described it only has theft or disaster.
I itemize each year, with mort int + charitable deductions. I just found out from Kelly Blue Book that the car was worth $3,300 (good condition, not excellent). I got $200 from a junk yard that took the car.
Nancy
June 12th, 2008 at 1:47 pm
No, cannot be claimed. This is what full coverage is for.
June 15th, 2008 at 8:29 am
For your tax return combined with the loss it has nothing to do you are reimbursed dollar for your loss and portion of the 3000 may.
June 17th, 2008 at 8:30 pm
For the 100 you need to reduce that amount again by 10 percent of your agi you need to itemize on schedule and use form 4684 for the car.
For the 100 you need to itemize on schedule and use form 4684 for the 100 you have to itemize on schedule and use form 4684 for.
For the 100 you have to itemize on schedule and use form 4684 for the 100 you deduct the car.
June 18th, 2008 at 3:56 pm
The amount from that form 4684 the casualty of theft or loss and.