Question 42 of 75. A casualty loss in a federally declared disaster area (FDDA) may be deducted O Only in the tax year immediately preceding the casualty event. O Only in the year in which the casually occurred. O Either in the year in which the casualty occurred or the tax year immediately following the casualty event, Either in the year in which the casualty occurred or the tax year immediately preceding the casualty event. Mark for follow up Question 43 of 75. The identifiable event resulting in complete or partial destruction of property allowing a casualty loss could be described as any of the following EXCEPT: O Sudden Unexpected Unusual. Progressive deterioration. Mark for follow up Question 44 of 75. Which of the following is NOT considered a casualty event regardless of whether a casualty loss or gain will be allowed? O Damage from a hurricane, tornado, earthquake, tidal wave, volcanic eruption, flood, storm, fire, or sonic boom. Damage or loss from a terrorist attack Damage or loss of market value because the property is near a qualified casually area O Damage or loss from straight-line winds. Mark for follow up Question 45 of 75. In a federally declared disaster area, if a claim for reimbursement exists and there's a reasonable prospect of recovery. the casualty O will still be reported in the year the disaster took place O will not be reported until the reimbursement claim is determined with reasonable certainty Will be reported in the year immediately following the year the claim is determined with reasonable certainty O Wil either be reported in the year of the disaster or on the tax return for the year before the disaster took place Mark for follow up Back Save / Return Later Summary Next >