Course Description: This is a basic-level course covering the Internal Revenue Code § 165(c)(3) deduction for loss of personal-use property from casualty or theft. This course focuses on personal-use property lost due to casualty or theft. A business property loss is deductible as a business expense, and is generally not subject to restrictions as to how the loss occurred. In contrast, loss of personal-use property generally is deductible only if the loss is from a casualty or theft. The course will also cover the rules that apply to measure the loss and limits on the deduction.
Course Level: Intermediate
Course Prerequisites: None
Delivery Method: Self-study
After completing this course you will: