Virtually everyone has suffered a loss, whether it's an accident, which may be covered by accident insurance, or theft.Tornadoes, earthquakes, wildfires, hurricanes, and other...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/30/2022
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
Posted by Rosovich & Associates, Inc. on 02/05/2021
IRS Form 8949 is a tax form used primarily to report sales and trade of capital goods. Form 8949 is filed alongside Schedule D of the income tax form.What is IRS Form 8949?Form 8949...
Posted by Don Bell Law on 03/19/2021
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
An unexpected, unusual or sudden event that causes damage to your property would allow you to enjoy a casualty deduction -- in that tax year -- for the loss to your property. The...
Posted by Advanced Accounting & Tax Planning on 09/30/2019
When you are claiming for the casualty and theft losses (non-business), there is a proper procedure for it. You have to file the complaint through the form 4684 keeping in mind that...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 12/10/2018
