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re: Tax question about Casualty & Theft Loss, probably

Posted on 10/11/12 at 3:00 pm to
Posted by SippyCup
Gulf Coast
Member since Sep 2008
6260 posts
Posted on 10/11/12 at 3:00 pm to
I dont see how this would qualify for a casualty loss.

The chemical spill was a known event before you purchased you property, therfore one could argue the negative effect on property value would have been built in on the purchase date.
Posted by bojabu
Member since Sep 2010
1275 posts
Posted on 10/11/12 at 4:21 pm to
So I'll likely need to know more information about if the spill was made public at the time it happened, or 26 years later when the company was sued over it, right?
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