Shared more. Cited more. Safe forever.
    • advanced search
    • submit works
    • about
    • help
    • contact us
    • login
    View Item 
    •   MOspace Home
    • University of Missouri-Columbia
    • University of Missouri Extension (MU)
    • Extension Publications in Series (MU)
    • AF - Agroforestry (MU Extension)
    • View Item
    •   MOspace Home
    • University of Missouri-Columbia
    • University of Missouri Extension (MU)
    • Extension Publications in Series (MU)
    • AF - Agroforestry (MU Extension)
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.
    advanced searchsubmit worksabouthelpcontact us

    Browse

    All of MOspaceCommunities & CollectionsDate IssuedAuthor/ContributorTitleIdentifierThesis DepartmentThesis AdvisorThesis SemesterThis CollectionDate IssuedAuthor/ContributorTitleIdentifierThesis DepartmentThesis AdvisorThesis Semester

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular AuthorsStatistics by Referrer

    Understanding Casualty Loss of Timber (2009)

    Godsey, Larry D., 1967-
    View/Open
    [PDF] af1014-2009.pdf (5.519Mb)
    Date
    2009
    Format
    Document
    Metadata
    [+] Show full item record
    Abstract
    One of the most common questions regarding tax treatment of timber has to do with casualty losses -- the damage, destruction or loss of a property resulting from an identifiable event that is sudden, unexpected or unusual. From a timber investment standpoint, the most common causes of casualty losses are fires, wind storms, ice storms, vandalism, floods and earthquakes. It is important to understand that losses in timber due to progressive deterioration, such as fungus, diseases, insects, worms, or similar pests are typically not considered casualty losses, because they are not sudden, unexpected or unusual. The IRS allows timberland owners to take a deduction on their Federal income tax return for casualty losses. Two major tax concepts are involved in determining a casualty loss deduction: "adjusted basis" and "fair market value." This guide is an explanation of these concepts and two case studies illustrating their application in determining a casualty loss deduction for damaged timber.
    URI
    http://hdl.handle.net/10355/10041
    Part of
    AF - Agroforestry (University of Missouri--Columbia. Extension) ; 1014
    Rights
    OpenAccess.
    This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.
    Provided for historical documentation only. Check Missouri Extension and Agricultural Experiment Station websites for current information.
    Collections
    • AF - Agroforestry (MU Extension)

    Send Feedback
    hosted by University of Missouri Library Systems
     

     


    Send Feedback
    hosted by University of Missouri Library Systems