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Contact Information |
Looey Tremblay RE/MAX Property Center 30 Burns Ave San Ignacio, Belize, Central America Skype : LooeyT, MSN : looeyt@hotmail.com
Office: 501-824-0550, (From North America, dial 011-501-824-0550), (Toll-free North America 1-877-836-2756) Cell: 519-241-1230 (Canadian Cell Phone) Fax: 501-824-0447, (From North America, dial 011-501-824-0447)
Lic. #: KW6821
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costs of a natural disaster |
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Are the costs of a natural disaster deductible?
Damage, destruction or loss of property from fires, floods, earthquakes and other disasters are deductible from both state and federal income taxes. In such a case, the IRS only allows a deduction less than or equal to the fair-market value of the property before the disaster.
Losses on the sale of your own home are not deductible, through they are deductible for rental properties.
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