Question and answer
If personal property is completely destroyed, the casualty loss deduction is still reduced by a floor amount. (Points : 5) True False
The loss has to exceed $100. IRC 165(h)(1). In addition, the net loss must exceed 10% of your Adjusted Gross Income (unless it is Hurr. Katrina Related). [ IRC 165(h)(2). - Any tax advice included in this written communication was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding any penalties that may be imposed by any governmental taxing
authority or agency. ]
Expert answered|cacaides|Points 194|
Question
Asked 8/24/2013 12:51:31 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
18,456,791 questions answered
Popular Conversations
In the poem "God's Grandeur," the phrase "nor can foot feel, being ...
Weegy: In the poem "God's Grandeur," the phrase "nor can foot feel, being shod" means: humans are out of touch with ...
11/27/2014 12:04:03 AM| 1 Answers
Weegy Stuff
S
L
1
L
P
C
1
P
C
1
L
P
C
1
Points 2902 [Total 14612]| Ratings 10| Comments 2802| Invitations 0|Online
S
L
Points 1472 [Total 3758]| Ratings 0| Comments 1472| Invitations 0|Offline
S
Points 842 [Total 874]| Ratings 1| Comments 832| Invitations 0|Offline
S
L
Points 777 [Total 1298]| Ratings 6| Comments 717| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
Points 773 [Total 14147]| Ratings 0| Comments 773| Invitations 0|Offline
S
1
L
L
Points 273 [Total 6667]| Ratings 0| Comments 273| Invitations 0|Offline
S
L
Points 162 [Total 1458]| Ratings 3| Comments 132| Invitations 0|Offline
S
Points 102 [Total 102]| Ratings 1| Comments 92| Invitations 0|Offline
S
Points 50 [Total 50]| Ratings 0| Comments 0| Invitations 5|Offline
S
Points 46 [Total 46]| Ratings 3| Comments 6| Invitations 1|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.