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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.
Home office deductions: computing the limitations on home office ... by Dancer, W. Terry / Journal of Accountancy
19), any deductible casualty loss will be deemed a business deduction.
A primer on individual NOLs by Kirk, David H. / The Tax Adviser
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.
Immediate impact: California CPAs reach out to Katrina victims by Barreto, Mitzy / California CPA
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