How can I claim loss of pleasure craft due to fire

Pleasure Craft, 17 ft Baylier with 120 hp. forse out board motor destroyed by fire while in rental 2011. E/W $8000 less $1000 received from home insurance. Didn't consider claiming until I note I cold be responsible for any capital gains on sale.

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Hello,

Capital gains cannot be triggered from the sale of anything used for pleasure. Same scenario would apply if you sold your car.

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