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casualty Loss ?

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    casualty Loss ?

    Client's basement incurred sewage damage from a break in the city sewage line. Approx. $20K in Losses. My understanding is no casualty loss on Schedule A. Correct ? Thanks,

    #2
    That is correct for personal loss. See pub 547: https://www.irs.gov/pub/irs-pdf/p547.pdf

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      #3
      Summarized version:

      https://www.irs.gov/taxtopics/tc515
      Always cite your source for support to defend your opinion

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