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re: Tax question about Casualty & Theft Loss, probably
Posted on 10/12/12 at 8:24 am to weaglebeagle
Posted on 10/12/12 at 8:24 am to weaglebeagle
The OP's real mistake was not being in the vicinity of the plant when the spill occurred. Every BR resident knows that when a spill occurs you're supposed to immediately go to the emergency room complaining about difficulty breathing. Then when you get settlement money from the chemical plant it is nontaxable personal injury damages rather than taxable damages to property.
1
Posted on 10/12/12 at 12:15 pm to Poodlebrain
quote:
Every BR resident knows that when a spill occurs you're supposed to immediately go to the emergency room complaining about difficulty breathing.
Lol, you're right about that! I don't think a suit would be the right course of action. I rented from the owner for a couple of years, and he died suddenly. The property then passed to a church located about 100 miles away, I can't see how they could have reasonably known, and since it's not a cult church, I wouldn't sue them over the couple hundred I'd end up with after the dust settled even if they DID know. I think I have enough info though, I'll just burn the plant to the ground for their transgression. Thanks for the info guys!
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