A Taxpayer Is Entitled to a Deduction for a Casualty

question 9

True/False

A taxpayer is entitled to a deduction for a casualty loss which occurred in a federal disaster area in mid-summer 2019.The taxpayer would prefer to take the casualty loss deduction in 2018 because he had a higher marginal tax rate that year.Since the taxpayer has already filed his 2018 tax return,he will not be able to take advantage of the option.

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Established norms or criteria against which quality or performance is measured.

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A case that does not follow the general rule or is different from what is usually found or expected.

Standards

Established norms or criteria that define the expected level of quality or performance.