An individual may deduct a loss on rental property even if it does not meet the definition of a casualty loss.

Question

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A rental property loss can be deducted as a business loss on the individual's tax return, regardless of whether or not it meets the criteria for a casualty loss deduction. However, the individual must meet certain requirements to qualify for this deduction, such as actively participating in the rental activity and having a profit motive.

An Individual May Deduct a Loss on Rental Property Even