All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎04-17-2018

Personal car accident - Total loss

I was in a no-fault car accident. My car was 1.5 years old only. My insurance company paid me some amount, but did not cover my losses fully. Can I deduct my losses under causality deductions?

Associate (Council Member)
Posts: 509
Registered: ‎01-31-2014

Re: Personal car accident - Total loss

Yes you can deduct your losses subject to some limitations if you itemize your deductions on Schedule A.

If you need further information I suggest you read up on the instructions for Schedule A.