$LevyIO

Casualty and Theft Losses in Baltimore, MD 2026

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

Maryland Tax Context

State Income Tax
5.75%
Local Income Tax
3.2%
Property Tax Rate
1.04%
Tax Burden
Moderate

Baltimore City piggyback income tax rate of 3.2% (highest in MD); all MD counties levy piggyback tax

$1,548
Est. Total Savings
No Limit
Max Deduction
Itemized
Deduction Type
30.9%
Combined Tax Rate

Casualty and Theft Losses Savings Calculator for Baltimore

$
$

Federal Savings

$1,100

22% bracket

Maryland State

$288

5.75% rate

Local Tax

$160

3.2% rate

Total Savings

$1,548

30.9% combined

At a 30.9% combined tax rate in Baltimore, every $1,000 in deductions saves you $310 in taxes.

Savings by Tax Bracket in Baltimore

10%
$948
12%
$1,048
22%
$1,548
24%
$1,648
32%
$2,048
35%
$2,198
37%
$2,298

Includes 5.75% Maryland state tax + 3.2% local 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 5.75% additional savings)
  • !Not checking if Baltimore's local income tax allows this deduction (3.2% potential additional savings)

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 Baltimore, MD

Alimony Payments (Pre-2019 Agreements)

Personal

~$25,323
est. savings

Casualty and Theft Loss (Federal Disaster)

Personal

~$21,102
est. savings

Alimony Paid (pre-2019)

Personal

~$7,034
est. savings

Adoption Expenses

Personal

~$11,255
est. savings

Impairment-Related Work Expenses

Personal

~$4,220
est. savings

Tax Preparation Fees (State)

Personal

~$563
est. savings

Casualty and Theft Loss (Federally Declared)

Personal

~$7,034
est. savings

Qualified Disaster Losses

Personal

~$14,068
est. savings

Casualty and Theft Losses in Other Maryland Cities

Columbia, MD

5.75% state + 3.2% local

~$4,220
+2,672 vs Baltimore

Germantown, MD

5.75% state + 3.2% local

~$4,220
+2,672 vs Baltimore

Silver Spring, MD

5.75% state + 3.2% local

~$4,220
+2,672 vs Baltimore

Frederick, MD

5.75% state + 2.96% local

~$4,188
+2,640 vs Baltimore

Waldorf, MD

5.75% state + 0.6% local

~$3,866
+2,318 vs Baltimore

Ellicott City, MD

5.75% state + 1.68% local

~$4,013
+2,465 vs Baltimore

Glen Burnie, MD

5.75% state + 2.76% local

~$4,160
+2,612 vs Baltimore

Rockville, MD

5.75% state + 3.2% local

~$4,220
+2,672 vs Baltimore

Calculate Your Full Tax Savings in Baltimore

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

Income Tax CalculatorTaxes in BaltimoreFull Casualty and Theft Losses Guide

Frequently Asked Questions

How much can I save with the Casualty and Theft Losses in Baltimore, MD?

In Baltimore, Maryland, the casualty and theft losses can save you an estimated $1,548 per year. This includes $1,100 in federal tax savings and $288 in Maryland state tax savings plus $160 in local tax savings. The national average savings is $3,000/year.

What is the Maryland state income tax rate for Baltimore residents?

Maryland has a 5.75% state income tax rate. Baltimore residents also pay a 3.2% local income tax, bringing the combined state/local rate to 8.9%. Baltimore City piggyback income tax rate of 3.2% (highest in MD); all MD counties levy piggyback tax

Who qualifies for the Casualty and Theft Losses in Baltimore?

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 Baltimore or elsewhere in the U.S., as this is a federal tax deduction. However, your savings amount will vary based on Maryland's 5.75% 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, which could provide an additional 5.75% savings. Filing status affects your deduction limits and tax bracket.

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

Yes, Baltimore residents benefit more because Maryland's 5.75% state income tax 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 30.9% means more savings per dollar deducted.

Related Calculators

Alimony Payments (Pre-2019 Agreements) in Baltimore

Avg savings: $18,000/year

Casualty and Theft Loss (Federal Disaster) in Baltimore

Avg savings: $15,000/year

Alimony Paid (pre-2019) in Baltimore

Avg savings: $5,000/year

Adoption Expenses in Baltimore

Avg savings: $8,000/year

Impairment-Related Work Expenses in Baltimore

Avg savings: $3,000/year

Tax Preparation Fees (State) in Baltimore

Avg savings: $400/year