Nine hundred dollars worth of newly acquired redwood deck furniture (not covered by insurance) which was left
Question:
Nine hundred dollars worth of newly acquired redwood deck furniture (not covered by insurance) which was left out on the porch of his cottage was missing when he returned to the cottage after a week’s absence in late May;
Loss of Furniture
In order to claim that one is entitled to a casualty loss for “missing” property, one must establish that its absence was occasioned by something such as a theft, storm, etc. Mere misplacing or disappearance of an item never has been treated as a casualty loss. For example, casualty losses were denied to: a woman who discovered that by the end of the day she was no longer wearing a brooch she put on in the morning, and an individual whose prize winning pedigree dog disappeared while being exercised. Mary, Frances Allen, 16 T.C. 163 (1951): Wolddell v. F. Smith, 10 T.C. 701 (1948).
Can Taxpayer claim casualty loss for missing property?