A casualty or theft loss is allowed only if the property is located within an area officially declared a federal disaster area. All emergency and major disaster declarations are made solely at the discretion of the President of the United States as provided by the Robert T. Stafford Disaster Relief and Recovery Act. In order...Read More The post Itemized Deductions Series - Part 6: Casualty & Theft Losses appeared first on Dent Moses, LLP.
