Anonymous
Not applicable
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Investors & landlords
was the property insured and if so did you file a claim? if not, no deduction regular tax or amt tax
and what was the property used for? if personal again no deduction. the tax laws were changed to diasallow personal casualty losses and the IRS want's any loss reduced by the insurance and if not claim by the amount of recovery you could have obtained.
one way I could see this loss causing amt is if it were claimed on schedule A but that would mean it was personal.
‎April 6, 2020
12:10 AM