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This publication explains the tax treatment of casualties, thefts, and losses on deposits.
- A casualty occurs when your property is damaged as a result of a disaster such as a storm, fire, car accident, or similar event.
- A theft occurs when someone steals your property.
- A loss on deposits occurs when your financial institution becomes insolvent or bankrupt.
Current revision
Recent developments
Extension of time to file an amended return for tax years 2020 and 2021 under the Federal Disaster Tax Relief Act of 2023 -- 13-AUG-2025