Tax deduction – accidents and losses Theft

Incident is defined as the loss, destruction or damage to property from an identifiable person, the event unavoidable, extraordinary, sudden and unexpected. Does not extend to normal wear or unavoidable events, such as the infestation of termites.

The flight is the loss of money or property through theft, embezzlement, theft, extortion, kidnapping for ransom or robbery. Losing money deceit or fraud is theft if it is illegal in the state or federal. Accidental loss of propertybecause of the damage can be deduced.

Less than an accident, loss or theft, must prove that:

The property belongs to you or is contractually responsible for them
A direct consequence of the loss that the type of event and the date of the event or theft of state and the date of discovery of

If there is no refund or recovery of property rights will be given. The difference between the market value before and after the event must beThey also indicated that to reduce the deductible amount. Any document, report, reception, photography, video, assessment, insurance claims, payment by check or other evidence of damage to property and must be used to support demand in return. If the assessment is not possible, a warning or a comparative advertisement which mentions the price or cost until May.

If the accident or theft, with many members, said the cost of each individual and calculated the total amount. It is the loss of homesThe loss is calculated as one and includes all sheds, barns, house, fence, plants and everything of value. The value of the loss is calculated by reducing the market value (price that could be sold) or the correct value of the property (acquisition cost plus the loss to the improvement of a previous accident).

The violation is a reimbursement or insurance benefits reduced / credit card.