A personal casualty loss results from the damage, destruction, or loss of your property from any sudden, unusual, or unexpected event such as a flood, hurricane, tornado, fire, earthquake, or volcanic eruption. It does not include the loss from normal wear and tear and/or progressive deterioration.
Personal Casualty Losses Defined
Posted by
Jennifer Grammer, CPA, Supervisor, Tax Services on Nov 5, 2019
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Topics: Real Estate, Personal Casualty