Publication 547 |
2001 Tax Year |
Proof of Loss
To deduct a casualty or theft loss, you must be able to show that
there was a casualty or theft. You also must be able to support the
amount you take as a deduction.
Casualty loss proof.
For a casualty loss, you should be able to show all the following.
- The type of casualty (car accident, fire, storm, etc.) and
when it occurred.
- That the loss was a direct result of the casualty.
- That you were the owner of the property, or if you leased
the property from someone else, that you were contractually liable to
the owner for the damage.
Theft loss proof.
For a theft loss, you should be able to show all the following.
- When you discovered that your property was missing.
- That your property was stolen.
- That you were the owner of the property.
It is important that you have records that will prove your
deduction. If you do not have the actual records to support your
deduction, you can use other satisfactory evidence to support your
deduction.
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