In 2019, the president of the United States declared a federal disaster due to brush fires in

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In 2019, the president of the United States declared a federal disaster due to brush fires in the Southwest. Lisa lives in that area and lost her home in the fires.What choice does she have regarding when she can claim the loss on her tax return?

a. It may be claimed in 2018 or 2019.

b. It must be claimed in 2018 if the loss is greater than her Modified Adjusted Gross Income.

c. It may be claimed in 2020 if an election is filed with the 2019 return.

d. It must be claimed in 2018 if the return has not been filed by the date of the loss.

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Fundamentals Of Taxation 2020 Edition

ISBN: 9781260483147

13th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler

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Question Posted: Dec 23, 2019 06:10 AM

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