casualty loss

casualty loss
casualty loss see loss

Merriam-Webster’s Dictionary of Law. . 1996.

casualty loss
Financial loss or loss of property arising from a sudden, unexpected, or unusual event such as a storm, flood, fire, shipwreck, or earthquake. Casualty loss qualifies for a tax deduction benefit. (See also: casualty)
Category: Accidents & Injuries
Category: Small Claims Court
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.

casualty loss
n.
   in taxation, loss due to damage which qualifies for a casualty loss tax deduction. It must be caused by a sudden, unexpected or unusual occurrence such as a storm, flood, fire, shipwreck, earthquake or act of God, but would not include gradual damage from water seepage or erosion.

Law dictionary. . 2013.

Look at other dictionaries:

  • Casualty — Cas u*al*ty, n.; pl. {Casualties}. [F. casualit[ e], LL. casualitas.] 1. That which comes without design or without being foreseen; contingency. [1913 Webster] Losses that befall them by mere casualty. Sir W. Raleigh. [1913 Webster] 2. Any injury …   The Collaborative International Dictionary of English

  • Casualties — Casualty Cas u*al*ty, n.; pl. {Casualties}. [F. casualit[ e], LL. casualitas.] 1. That which comes without design or without being foreseen; contingency. [1913 Webster] Losses that befall them by mere casualty. Sir W. Raleigh. [1913 Webster] 2.… …   The Collaborative International Dictionary of English

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