If a taxpayer's personal property is completely destroyed,the casualty loss deduction is still reduced by a required floor amount.

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The casualty loss deduction for personal property is still subject to a required floor amount, regardless of whether the property is partially or completely destroyed. The floor amount is determined by applying a percentage of the taxpayer's adjusted gross income (AGI) to the total casualty losses for the year.

If a Taxpayer's Personal Property Is Completely Destroyed,the Casualty Loss