Overview
In this course the instructor explains the tax rules regarding disasters including federally declared disaster areas, filing extensions, casualty loss deductions and income exclusions. This course includes the 12/12/2024 Disaster Bill
Prerequisites
None
Objectives
Upon completion of this course you should have a greater understanding of gains and losses in the event of a qualified disaster, specifically as they pertain to personal residences and livestock. Participants should be able to define theft and casualty loss, in addition to obtaining an awareness of deferred gains, grants and loans, as well as postponed deadlines. This course will inform you of the process to claiming a loss on prior returns.
