Tag Archives: Loss on sale of residential property

Top Ten Tips for Taxpayers Deducting Casualty and Theft Losses

Courtesy of the IRS Taxpayers who find themselves the victim of a natural disaster or theft this summer should know the rules for deducting their casualty losses next year when they file their federal tax return. Generally, you may deduct losses to your home, household items and vehicles on your federal income tax return. Here […]