casualty loss deduction
- In taxation, a deduction that is allowed by a loss caused by an unexpected or unusual event such as a storm, flood, fire, shipwreck, earthquake or act of God.
Business law dictionary. 2015.
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Casualty loss — A casualty loss is a type of tax loss that is a sudden, unexpected, or unusual event. [IRS Revenue Ruling 79 174] Damage or loss resulting from progressive deterioration of property through a steadily operating cause would not be a casualty loss … Wikipedia
casualty loss — see loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. casualty loss … Law dictionary
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Miller v. Commissioner — Miller v. Commissioner, 733 F.2d 399 (6th Cir. 1984) was a case in which the United States Court of Appeals for the Sixth Circuit held that taxpayers are allowed to claim deductions for economic detriments which are a loss and not compensated for … Wikipedia
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List of law topics (A-E) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… … Wikipedia
1231 property — refers to the tax treatment of certain types of property under [http://www.law.cornell.edu/uscode/uscode26/usc sec 26 00001231 000 .html 26 USCA § 1231] of the Internal Revenue Code for the United States of America. The types of 1231 property… … Wikipedia