If a Taxpayer Suffers a Loss Attributable to a Disaster

question 15

True/False

If a taxpayer suffers a loss attributable to a disaster in an area subsequently declared a disaster area,the casualty loss may be deducted in the year preceding the year in which the loss actually occurs.

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Definitions:

Toxic Substances

Materials or compounds that cause harm to organisms when ingested, inhaled, or come into contact with skin or mucous membranes.

Cutaneous Receptor

A sensory receptor found in the skin that responds to various stimuli like touch, pressure, heat, or cold.

Equilibrium

A state of balance or stability within a system, where competing forces or influences are in equal opposition.

Sound Waves

Vibrations that travel through air or another medium and can be heard when they reach a person's or animal's ear.