Question: you could help me with my problem. I own a home-- my personal residence--north of Indianapolis on a tributary of the White River. I bought

you could help me with my problem. I own a home-- my personal residence--north of Indianapolis on a tributary of the White River. I bought this home because it was located on the river where my family could boat and fish--probably not swim, too muddy. Due to some industrial pollution of the river, thousands of fish were killed in the White River and now nobody wants to get close to the water. I figure that the value of my property has dropped dramatically. I purchased the home for $500,000 five years ago and now it may be worth only $300,000. The polluting company was penalized by the EPA, but we didn't get anything and my lawyer doesn't think we can sue. Can I write this $200,000 loss off? Let me know if you need more information

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

thisown a home--my personal residence--north of Indianapolis on a tributary of the White River. I bought this home because it was located on the river where my family could boat and fish--probably...

I own a home--my personal residence--north of Indianapolis on a tributary of the White River. I bought this home because it was located on the river where my family could boat and fish--probably not...

Someone said that you could help me with my problem. I own a home--my personal residence--north of Indianapolis on a tributary of the White River. I bought this home because it was located on the...

Question 5. HINDSIGHT, THEY SAY IS 20/20, So, in retrospect, it is not so surprising that the born in real estate prices of just a few years ago was followed by a painful collapse. Fueled in part by...

Please Follow the Instructions Subject English 103 Com/Critical Thinking 1. Analyze: In at least words , post a response to the assigned reading by analyzing the text (this is a close reading to find...

Help me with this assignment for English 30-1 Alberta SHORT STORY READING: On the Rainy River by Tim O'Brien \"All of us, | suppose, like to believe that in a moral emergency we will behave like the...

Students will find the York City Case Study provided for review. There is a maximum of three pages in this work. All ethical decisions affect others (by definition) and, as Aristotle points out,...

Read the following article (5 pages): Mufson, Steven. Huge plastics plant faces calls for environmental justice, stiff economic headwinds, Washington Post, 19 April 2021. Recall that the 10 OM...

Create an annotated bibliography from the three core readings (provided); ? Each annotation (summary & comment) should be approximately 300 words (per reading); ? Each annotation should include a...

for this case study carefully read the article titled "The Case for Reparations" The Atlantic Introduction Provide an overview of the situation Identify critical issues underlying the problems...

Look again at Practice Question 14. Consider a portfolio with equal investments in stocks P, P 2 , and P 3 . a. What are the factor risk exposures for the portfolio? b. What is the portfolios...

What is the definition of tax base, and how does it affect the amount of tax levied?

Cash Budget Cash Budget Cash Budget Cash Budget Cash Budget & Short - Term Financing Presented below are partial October, November, and December cash budgets for Holldays Events. Loans are obtained...

Specific actions and policies that consistently show ( with scientific reliability ) that they "work," based on defined outcomes, such as costeffectiveness , reduced crime, increased satisfaction...

=+3. Have a look at this Financial Times article (http://www.ft.com/cms/s/0/c6d8c8a2-5902- 11de-80b3-00144feabdc0.html), which describes a law passed by the Norwegian government to force listed...

=+5. Look at this video of Nike CEO Phil Knight and the documentary producer, Michael Moore: http://www.youtube.com/watch? v=cOI0V4kRCIQ. Is Nike a good company? Why or why not?

=+2. Is a tobacco firm that employs tens of thousands of people and pays significant taxes a better or worse firm (in terms of CSR performance) than a supermarket that sells food but pays its...