The National Directory of Certified Public Accountants

Ask A CPA - Casualty Losses

Are My Termite Damage Costs Considered A Deductible Casualty Loss ?

No. Any termite or moth damage costs are not considered casualty losses. Generally, casualty losses occur from auto accidents, earthquakes, fires, floods, hurricanes, sonic booms, storms, thefts, tornadoes, vandalism, volcanic eruptions and other accidents.

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