The casualty or theft loss is difficult to qualify for because the loss must

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To qualify for a casualty or theft loss deduction, the loss must be both unreimbursed and exceed 10 percent of adjusted gross income (AGI) plus $100. This means that if a taxpayer's AGI is $50,000, they would have to have a loss of at least $5,100 ($50,000 x 10% + $100) to qualify for a deduction. Additionally, the loss can be in the form of either cash or property.

The Casualty or Theft Loss Is Difficult to Qualify for Because