Tax Deduction on Timber and Landscape trees destroyed by severe weather

Shaun Tanger  |  10/4/2017 1:27:31 PM

Timber or landscape trees destroyed by the hurricane, fire, earthquake, ice, hail, tornado, and other storms are “casualty losses” that may allow the property owners to take a deduction on their federal income tax returns. The key for most cases is to figure out the “adjusted basis” of the timber.

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