Involuntary Conversions and Casualty Losses - Deloitte

Involuntary Conversions and Casualty Losses

Chris Eibl Dave Yankee

Deloitte Tax LLP

September 30, 2014

Agenda

? Overview ? Casualty losses ? Restoration costs ? Involuntary conversions -- gain deferral ? Related issues

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Copyright ? 2014 Deloitte Development LLC. All rights reserved.

Overview

Types of transactions

? Storm damage ? Equipment malfunctions ? Condemnations

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Copyright ? 2014 Deloitte Development LLC. All rights reserved.

Tax terminology

? Involuntary conversion ? Casualty loss ? Single identifiable property ? Disaster loss

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Copyright ? 2014 Deloitte Development LLC. All rights reserved.

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