Case Study 73: Casualty and Theft (Increased Personal Loss)

in #tax6 years ago

Index - https://steemit.com/tax/@alhofmeister/3fyvxh-tax-blog-index

Introduction
The purpose of this posting is to further demonstrate the effect of a casualty loss. This example looks at the casualty loss of 4 different properties of varying types in 3 different loss events. After posting the initial entry, I decided to increase the loss associated with the personal property to better demonstrate the calculation.

Solution

References
https://steemit.com/tax/@alhofmeister/casualty-disaster-and-theft-losses

Disclaimer
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties.

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