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Deduct stolen tools

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J

javajoe28

Guest
I live in Mass. Last year I was out of work for several months due to falling off a ladder. I was covered by workmans comp. but once I was medically cleared to go back to work my company had no work. They told me to start collecting unemployment, I went to work to pick up my tools (I am a HVAC TECH) only to find out somebody had emptied my truck of all of my tools. How can I recover from this loss ? Can I deduct the loss on my taxes ? Any suggestions welcomed thank you.
 


L

loku

Guest
You can deduct this if you itemize deductions. If you do itemize, deduct the loss on line 20 of Schedule A of Form 1040, as an unreimbursed employee expense. Label it as “theft of tools.”
 

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