Idaho Fires - Casualty Loss Deduction
As many of you prepare for this tax season, there may be questions that arise from losing personal property in the fires that affected Kamiah, Idaho and the surrounding areas in August of 2015. Some of those questions may be:
"Can I deduct property that was partially damaged?"
"Can I deduct property that was completely destroyed?"
If you want to save on taxes and you lost personal property in the fire, then give us a call. IRS allows casualty loss deductions through a simple calculation method. Visit the link below to see the IRS publication.