Starting to work on a tax return, I was going through a lengthy list of expenses to see which fit into various itemized deductions on Schedule A. The person never get to take casualty and theft losses.
There's a dog who is always taking towels and anything else that smells like food. These items are indeed destroyed. This is what the tax code was getting at, yes?
Ah, I can see how that might seem like a fitting situation for the tax code, but let's set the record straight.
Unfortunately, your dog's mischievous behavior and the destruction of personal items don't qualify as casualty and theft losses for itemized deductions on Schedule A. These deductions generally cover losses from sudden, unexpected, or unusual events like natural disasters, theft, or vandalism. More information about casualty and theft losses can be found in the IRS Publication 547:
For most taxpayers, the standard deduction is more beneficial than itemizing deductions on Schedule A. However, it's always a good idea to evaluate both options and choose the one that provides the greatest tax benefit. You can find the standard deduction amounts for the tax year in question here:
Remember that there are other itemized deductions you might be eligible for, such as medical expenses, state and local taxes, home mortgage interest, and charitable contributions. You can find more information on itemized deductions in the IRS Schedule A instructions:
In short, while your dog's antics may be a source of frustration, they won't qualify as casualty and theft losses for tax purposes. Be sure to explore all available deductions and choose the option that works best for your situation.
It doesn't appear that this will qualify as a dog isn't a federally declared disaster. The rules (Pub 547) say: "Deductible losses. For tax years 2018 through 2025, if you are an individual, casualty losses of personal-use property are deductible only if the loss is attributable to a federally declared disaster (federal casualty loss). "
For a lot more information, see
Finally, the total of all itemized deductions would need to exceed the standard deduction for it to make sense itemizing.
He is a very naughty dog.
What about a theft? The dog clearly intended to deprive someone else of the towel, and he wants to be chased. I suppose it's not a theft in any state's criminal code.
Good point. He's never swiped anything that expensive. At some point, he will.
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