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Posted by Paul Thomas on April 16, 2007, 9:50 pm
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> Paul Thomas, CPA wrote:
>> Last year I picked up a client from Kenner, LA. She told me
>> the other day that she has been told that storage of her
>> personal effects is part of the computation of her casualty
>> loss (word on the street, and someone at the IRS "confirmed"
>> it).
>>
>> I have yet to see anything that supports that notion. Does
>> anyone have anything that substantiates the claiming of
>> storage costs as part of the deductible disaster loss? If
>> so, where is the authority for that?
> Incidental expenses to a casualty or disaster have never
> been included as part of the loss (e.g., car rental &
> temporary housing). If temporary housing is excluded, then
> temporary storage would also be excluded. I checked all the
> Go Zone legislation and could not find anything that changed
> this aspect of computing one's loss.
Thanks. I didn't think so. Urban legends thrive in a
disaster area.
--
Paul A. Thomas, CPA
Athens, Georgia
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