Line 20: Casualty or theft loss(es)

Your New York itemized deduction for casualty and theft losses is calculated using the federal rules that applied to tax year 2017.

To calculate the amount of your casualty and theft loss, complete Section A of the Casualty and theft worksheet . Only enter the amount from line 18 of the worksheet on line 20 of Form IT-196.

You may be able to deduct part or all of each loss caused by theft, vandalism, fire, storm, or similar causes; car, boat, and other accidents; and corrosive drywall . You may also be able to deduct money you had in a financial institution but lost because of the insolvency or bankruptcy of the institution.

You can deduct personal casualty or theft losses only to the extent that:

the amount of each separate casualty or theft loss is more than $100, and

the total amount of all losses during the year (reduced by the $100 limit in 1) above) is more than 10% of the amount on Form IT-201, line 19 or IT-203, line 19 (Federal amount column).