Income Tax Deduction for Timber Casualty Loss

Income Tax Deduction for Timber Casualty Loss - Fact Sheet

Timber damaged by hurricane, fire, earthquake, ice, hail, tornado, high wind and other storms are "casualty losses" that may allow timberland owners to claim a deduction on their federal income tax returns. But in many cases the specific requirements on loss calculation set by the tax law and rules may actually result in low or no deductions.

This fact sheet contains updated information on how to report timber casualty losses on your federal income tax.
If you are unable to download the attached PDF file, please contact the Bossier Parish office at 318-965-2326

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8/26/2011 12:34:27 AM
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