How to claim a shade tree casualty loss
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May 18, 2011 3:00 pm US/Eastern
Length: 01:00 (hh:mm)
- Deborah A. Gaddis, PhD., Mississippi State University Extension Forestry’s timber taxation specialist
- None have been applied for or approved at this time.
Claiming a casualty loss on an individual’s federal income tax return for damaged shade trees is possible—but only if the proper valuation techniques are used. Taking a loss requires knowledge of the value of the trees destroyed, before and after values of the property, and/or clean up costs. Dr. Deborah A. Gaddis, Mississippi State University Extension Forestry’s timber taxation specialist, will explain how to claim a shade tree casualty loss.