Casualty gains and losses from business or investment property:

Name: Casualty gains and losses from business or investment property:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Casualty gains and losses from business or investment property may be treated differently depending on whether the property has been held 1 year or less or has been held over 1 year, unlike casualty gains and losses from personal property. They are also subject to the 10 percent of adjusted gross income limitation and may be subject to depreciation recapture provisions.

Casualty Gains and Losses from Business or Investment Property