Line 30: Casualty and theft losses of income-producing property

You must first complete Section B of the Casualty and theft worksheet . Refer to line 28 of the worksheet.

You can deduct a casualty or theft loss as a miscellaneous itemized deduction that is not subject to the 2% limit, if the damaged or stolen property was income-producing property (property held for investment, such as stocks, notes, bonds, gold, silver, vacant lots, and works of art). For more information on casualty and theft losses, see Itemized deductions and review the 2017 IRS Publication 547.