When Personal-Use Property Is Covered by Insurance,no Deduction Is Available

question 26

True/False

When personal-use property is covered by insurance,no deduction is available for a casualty loss of the property unless the taxpayer timely files an insurance claim for the loss.

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Definitions:

Negative Message

A communication that conveys bad news, rejection, or unfavorable information to the recipient.

Detail

An individual feature, fact, or item, especially one that is considered to be intricate or significant.

Positive Message

Communication that conveys good news or a favorable outcome, often intended to motivate or affirm.

Informative Message

A communication that provides data, facts, updates, or feedback without an explicit intention to persuade.