Determining the Casualty and Theft Loss Deduction Webinar

Summary
When disaster strikes or fraud wipes out an investment, knowing the tax implications can make all the difference. While business casualty and theft losses from Ponzi-type investment schemes are deductible, personal casualty loss deductions are limited to those incurred in federally declared disaster areas for tax years 2018-2025. This webinar will clarify when a casualty or theft loss is deductible, how to calculate the amount of the loss and whether a taxable event arises when insurance reimbursement exceeds the property's basis. It will also cover correctly reporting such losses using Form 4684, Casualties and Thefts.

2 CPE for AFSP, EA, CPA, CRTP

Objectives
Upon completion of this course, you will be able to:
• Determine whether a casualty loss is allowed
• Identify the year a casualty loss may be claimed
• Analyze casualty loss limitations
• Determine Ponzi scheme losses and treatment
• Prepare Form 4684

Register: https://www.natptax.com/EventsAndEducation/Pages/course-details-live-webinar.aspx?k=WEB2546

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