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Casualty and theft loss means a loss or destruction caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. Such losses are reported under the casualty loss section on Schedule A of Form 1040. They are subject to a 10% adjusted gross income (AGI) threshold limitation with a $100 diminution per loss. Generally, theft losses require proof that the property was actually stolen and the taxpayer must be able to itemize deductions to claim any personal losses.