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A casualty loss deduction is limited to property losses, specifically the decline in value of the property due to the casualty. Ancillary costs are not deductible. Non-deductible ancillary costs would include items such as -
Sorry, but you can't.
A casualty loss deduction is limited to property losses, specifically the decline in value of the property due to the casualty. Ancillary costs are not deductible. Non-deductible ancillary costs would include items such as -
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