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Casualty loss

   Also found in: Legal 0.03 sec.
Casualty loss
A financial loss caused by damage, destruction, or loss of property as a result of an unexpected or unusual event.

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The deductibility of a casualty loss depends on the property affected.
19), any deductible casualty loss will be deemed a business deduction.
There were people asking me things like what is the definition of a casualty loss and how do I get started compiling an inventory of my personal property," she says.
 
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