The National Directory of Certified Public Accountants

Ask A CPA - Casualty Losses

Examples Of Types Of Events That Qualify As A Casualty Loss

A deductible loss can result from a number of events. Here are some examples: •Storm (including hurricanes and tornadoes). •Flood and wind, •Fire, •Earthquake, •Other “sudden and unexpected events,” such as an automobile accident, also qualify as a casualty for tax purposes.

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