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Disasters happen the unfortunate happens-but do tax

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Accidents happen, disasters happen, the unfortunate happens-but do tax deductions for them happen?Describe one basic category of such deductions or losses, and provide us with an example of it as well. Don't forget to explain any substantial limitations on the particular deduction and how the amount of the deduction is calculated-those are the types of important details that we'll be focusing on as we proceed through the tax law in this course.

Reference no: EM13480399

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