Stolen tools
Varies
Can You Write Off Stolen Tools?
Short answer: Business tools stolen from a truck or site are a deductible theft loss for the undepreciated cost, minus insurance.
File a police report and keep it.
Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.
BW-B23-00157
medium risk
Stolen tools
Varies
Remote Workers / Freelancers / Consultants
Other Expenses
Write-Offs by Job
Business tools stolen from a truck or site are a deductible theft loss for the undepreciated cost, minus insurance.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Business tools stolen from a truck or site are a deductible theft loss for the undepreciated cost, minus insurance. File a police report and keep it.
Category
- Write-Offs by Job
job question
search demand 2026 b23
trades
trade tools