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Casualty and Theft Losses in Maryland 2026

Calculate your casualty and theft losses tax savings in Maryland. With Maryland's 5.75% top state tax rate, your combined savings are higher.

Maryland Tax Overview

State Income Tax
5.75%
progressive
Sales Tax
6%
avg combined: 6%
Property Tax Rate
1.05%
Median Income
$90,203

8 brackets. County taxes add 2.25-3.20%. Both estate AND inheritance tax. Low standard deduction.

Maryland Income Tax Brackets (Single)

2%
$0 - $1,000
3%
$1,000 - $2,000
4%
$2,000 - $3,000
4.75%
$3,000 - $100,000
Your bracket
5%
$100,000 - $125,000
5.25%
$125,000 - $150,000
5.5%
$150,000 - $250,000
5.75%
$250,000 +
$1,338
Est. Total Savings
No Limit
Max Deduction
Itemized
Deduction Type
26.8%
Combined Tax Rate

Casualty and Theft Losses Savings Calculator for Maryland

$
$

Federal Savings

$1,100

22% bracket

Maryland State

$238

4.75% rate

Total Savings

$1,338

26.8% combined

At a 26.8% combined tax rate in Maryland, every $1,000 in deductions saves you $268 in taxes.

Savings by Tax Bracket in Maryland

10%
$738
12%
$838
22%
$1,338
24%
$1,438
32%
$1,838
35%
$1,988
37%
$2,088

Includes 4.75% Maryland state tax on top of federal savings.

Eligibility Requirements

Available to individuals who suffer losses from federally declared disasters. Since 2018, personal casualty losses are only deductible if attributable to a federally declared disaster.

  • 1Loss must result from a federally declared disaster
  • 2Must reduce loss by insurance reimbursements
  • 3Each casualty loss must exceed $100
  • 4Total losses must exceed 10% of AGI

Maryland residents should verify that this deduction is also recognized on their state tax return for additional savings of up to 5.75%.

Common Mistakes to Avoid

  • !Claiming losses not from federally declared disasters
  • !Not filing insurance claims before taking deduction
  • !Incorrect valuation of damaged property
  • !Missing the deadline to amend returns for disaster losses
  • !Forgetting to claim the deduction on your Maryland state return (missing up to 5.75% additional savings)

Maryland Filing Tips

Total tax includes state and county. County tax adds significantly. Both estate and inheritance taxes apply. Low standard deduction makes itemizing worthwhile. Retirement income subtraction available for 65+.

Required Tax Forms

Form 4684Schedule A

File these forms with your federal tax return to claim the casualty and theft losses. Maryland may require additional state-specific forms.

Other Tax Deductions in Maryland

Alimony Payments (Pre-2019 Agreements)

Personal

~$21,886
est. savings

Casualty and Theft Loss (Federal Disaster)

Personal

~$18,239
est. savings

Alimony Paid (pre-2019)

Personal

~$6,080
est. savings

Mortgage Interest Deduction

Housing

~$4,256
est. savings

Property Tax Deduction

Housing

~$2,675
est. savings

Home Office Deduction

Housing

~$1,459
est. savings

Home Energy Tax Credit

Housing

~$1,800
est. savings

Residential Solar Tax Credit

Housing

~$7,500
est. savings

Casualty and Theft Losses in Neighboring States

Pennsylvania

3.07% top rate (flat)

~$3,419
+2,081 vs Maryland

Delaware

6.6% top rate (progressive)

~$3,900
+2,562 vs Maryland

Virginia

5.75% top rate (progressive)

~$3,784
+2,446 vs Maryland

West Virginia

5.12% top rate (progressive)

~$3,698
+2,360 vs Maryland

District of Columbia

10.75% top rate (progressive)

~$4,466
+3,128 vs Maryland

Tax Calculators for Maryland Cities

BaltimoreColumbiaGermantownSilver SpringFrederickWaldorfEllicott CityGlen BurnieRockvilleBethesda

Calculate Your Full Tax Savings in Maryland

Use our free tax calculators to optimize your entire tax return for Maryland.

Income Tax CalculatorMaryland Income TaxFull Casualty and Theft Losses Guide

Frequently Asked Questions

How much can I save with the Casualty and Theft Losses in Maryland?

In Maryland, the casualty and theft losses can save you an estimated $1,338 per year on a $5,000 deduction. This includes $1,100 in federal tax savings and $238 in Maryland state tax savings at the 4.75% marginal rate. The national average savings is $3,000/year.

What is the Maryland state income tax rate?

Maryland has a progressive income tax system with a top rate of 5.75%. 8 brackets. County taxes add 2.25-3.20%. Both estate AND inheritance tax. Low standard deduction.

Who qualifies for the Casualty and Theft Losses in Maryland?

Available to individuals who suffer losses from federally declared disasters. Since 2018, personal casualty losses are only deductible if attributable to a federally declared disaster.. The eligibility requirements are the same whether you live in Maryland or another state, as this is a federal tax deduction. However, your total savings will vary based on Maryland's 5.75% top state tax rate.

What tax forms do I need to claim the Casualty and Theft Losses in Maryland?

To claim the casualty and theft losses, you need to file Form 4684 and Schedule A with your federal return. Maryland residents should also check if the state allows this deduction on their state return for additional savings of up to 5.75%. Filing status affects your deduction limits and tax bracket.

Is the Casualty and Theft Losses better in Maryland than in states without income tax?

Yes, Maryland residents benefit more because the state's 5.75% top income tax rate means the deduction reduces both your federal AND state tax liability. In states with no income tax (like Texas, Florida, or Nevada), this deduction only reduces federal taxes. Your combined rate of 26.8% means more savings per dollar deducted.

What is the standard deduction in Maryland for 2026?

Maryland's standard deduction is $2,550 for single filers and $5,150 for married filing jointly. Total tax includes state and county. County tax adds significantly. Both estate and inheritance taxes apply. Low standard deduction makes itemizing worthwhile. Retirement income subtraction available for 65+.

Related Calculators

Alimony Payments (Pre-2019 Agreements) in Maryland

Avg savings: $18,000/year

Casualty and Theft Loss (Federal Disaster) in Maryland

Avg savings: $15,000/year

Alimony Paid (pre-2019) in Maryland

Avg savings: $5,000/year

Mortgage Interest Deduction in Maryland

Avg savings: $3,500/year

Property Tax Deduction in Maryland

Avg savings: $2,200/year

Home Office Deduction in Maryland

Avg savings: $1,200/year