Examlex
Name the following compound.
Deductibility
The ability of a taxpayer to subtract certain expenses or contributions from their gross income, reducing the amount of taxable income.
Casualty Deduction
A tax deduction for losses incurred from the sudden, unexpected, or unusual destruction of property.
Personal Casualty Losses
Financial losses resulting from the damage, destruction, or loss of personal property from events like natural disasters, theft, or accidents, which may be deductible under certain conditions.
Termite Damage
Damage caused to structures (like homes) by termites, often leading to costly repairs and impacting property value.
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