in a deductible casualty and theft the basis of property involved is reduced by the amount...
in a deductible casualty and theft the basis of property involved is reduced by the amount of insurance proceeds received and by resulting recognizing loss
Homework Answers
In a deductible casualty and theft, the basis of property involved is reduced by the amount of insurance proceeds received and by resulting recognized loss.
Because insurance proceeds is like scrap value which is reduced for calculation of net value of property. Loss is reduced to calculate the net amount of property.
So, the answer is TRUE.
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in a deductible casualty and theft the basis of property
involved is reduced by the amount...
deductible casualty and theft losses are generally claimed in the year… - if federally declared disaster...
deductible casualty and theft losses are generally claimed in the year… - if federally declared disaster occurred or the following year. - federally declared disaster occurred, or the prior year. - The casualty loss occurred. -The theft loss was discovered.
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additional damage to furniture, deductible casualty loss would
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What is the amount of casualty loss
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greater than? His deductible loss is? If the tornado caused 2000
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be?
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