A theft or other casualty of personal use property can create an NOL for an individual.

Name: A theft or other casualty of personal use property can create an NOL for an individual.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When personal use property is stolen, destroyed or otherwise lost, the individual may be able to claim a casualty loss deduction. This deduction can create or increase an NOL (net operating loss) for the individual.

A Theft or Other Casualty of Personal Use Property Can