The current position of the IRS is that a personal casualty loss deduction is not allowed for losses resulting from termites.

Question

Quizplus · Accepted Answer

According to IRS Publication 547, a personal casualty loss deduction is generally only allowed for losses resulting from events such as fires, floods, and earthquakes. Termites are not included on this list and therefore do not qualify for the deduction.

The Current Position of the IRS Is That a Personal