A theft loss of investment property is an itemized deduction not subject to the 2%-of-AGI floor.

Name: A theft loss of investment property is an itemized deduction not subject to the 2%-of-AGI floor.
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Theft losses of investment property are deductible as itemized deductions on Schedule A of Form 1040, and are not subject to the 2%-of-AGI floor. However, the deduction is subject to certain limitations and requirements specified by the IRS.

A Theft Loss of Investment Property Is an Itemized Deduction