Comment on Q&A with Patti Verhille

Q&A with Patti Verhille

BY PAULA BURKESWeather-related losses may be tax-deductible under IRS rules Q: What's a casualty loss, and who can claim the loss on their tax returns? A: The Internal Revenue Service defines it as “the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected or unusual.” If you experience damage to personal, income-producing or business property, you may be able to claim a casualty loss deduction on your income tax return. Q: When is a casualty loss deductible? A: Generally, it's deductible for the year in which the loss occurred.Read more on NewsOK.com

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More News