If investment property is stolen, the amount of the loss is the adjusted basis of the property at the time of the theft reduced by $100 and 10% of AGI.

Question

Quizplus · Accepted Answer

The amount of the loss for stolen investment property is indeed the adjusted basis of the property at the time of the theft, but the reduction of $100 and 10% of AGI applies specifically to personal casualty and theft losses, not to investment or business property.

If Investment Property Is Stolen, the Amount of the Loss