casualty gain

casualty gain
casualty gain see gain

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

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  • casualty — ca·su·al·ty / ka zhəl tē, ka zhə wəl / n pl ties 1: an unfortunate occurrence; esp: a serious and often disastrous accident conversion of property...arising from fire, storm, shipwreck, or other casualty Internal Revenue Code 2: something lost,… …   Law dictionary

  • Casualty Pot — n: a step in calculating tax liability under Internal Revenue Code section 1231 in which qualified casualty gains and losses are added together to determine if the result is a net loss or net gain compare main pot ◇ Property that qualifies for… …   Law dictionary

  • gain — n 1: an increase in value, capital, or amount compare loss capital gain: a gain realized on the sale or exchange of a capital asset (as a stock or real estate) ca·su·al·ty gain: a gain realized by an insured because property insurance benefits… …   Law dictionary

  • Personal Casualty Gains — for individuals for United States Federal Income Tax purposes are defined in section 165(h)(3)(A) of the Internal Revenue Code as the recognized gain of property arising from fire, storm, shipwreck, or other casualty. The property in question… …   Wikipedia

  • Characters of Casualty — Casualty is the world s longest running television emergency medical drama,[1] first broadcast in 1986 and transmitted in the UK on BBC One. The show s characters are all staff within the fictional Holby City Hospital, composed of doctors, nurses …   Wikipedia

  • Nonrecurring Gain Or Loss — A one time or highly infrequent profit or loss. One time gains or losses are reported separately in a coporation s income statement net of income taxes and are not shown to affect earnings per share (EPS). Also referred to as extraordinary… …   Investment dictionary

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • Actuary — Damage from Hurricane Katrina. Actuaries need to estimate long term averages of such damage in order to accurately price property insurance and set appropriate reserves. Occupation Names Actuary …   Wikipedia

  • 1231 property — refers to the tax treatment of certain types of property under [http://www.law.cornell.edu/uscode/uscode26/usc sec 26 00001231 000 .html 26 USCA § 1231] of the Internal Revenue Code for the United States of America. The types of 1231 property… …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

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