I just lot a big collection of toy cars and other valuables in a fire. I estimate the losses at $ 10,000-15,000. I did not have insurance to cover it. Can I write off the losses? If so, what kind of documentation do I need? Do I need a professional Appraisal? Pictures of everything that I can identify? Any other advice?
I don’t have a pre-fire list of everything… What can I do?
And would the write off value be what I Paid 10 years ago? Or current value??