The Cause of Property Loss

Responses
Name
Instructor
Institution
Date
Response 1
Your work is quite comprehensive and thorough, something that is a great ingredient for a constructive discussion. There are certain factors that determine the amount of the deductible loss when the property is lost. This is especially the case when it comes to a significant amount of loss. I agree with you that there is a way in which one can manipulate tax deductions through the disposal of property, especially under the threat of condemnation. You have offered several ways that property can be disposed of and, in the process, help lift the tax burden on oneself. It is worth noting that there is much importance that should be placed on the nature of the property in question. Personal property is usually handled differe...