We had a rental property destroyed by fire- insurance paid us we now are starting to rebuild. Do we report this as a casualty loss on our Federal taxes?
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We had a rental property destroyed by fire- insurance paid us we now are starting to rebuild. Do we report this as a casualty loss on our Federal taxes?
We had a rental property destroyed by fire- insurance paid us we now are starting to rebuild. Do we report this as a casualty loss on our Federal taxes?
Yes, this is a casualty loss that you can report on your taxes. See FAQ below for instructions.
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