Question

Only certain losses from casualty and theft are deductible. Of the following, which type of casualty loss is NOT deductible?

A. Terrorist attack
B. Mine cave-ins
C. Sonic booms
D. Progressive deterioration due to normal wind and weather

Answer 1

Progressive deterioration due to normal wind and weather is the type of casualty loss that is not deductible because it is a predictable decline over time.

Step-by-step explanation:

The type of casualty loss that is NOT deductible from the options provided is Progressive deterioration due to normal wind and weather. Deductible casualty losses are typically sudden, unexpected, or unusual in nature. Thus, a progressive deterioration does not qualify since it results from a property's predictable decline over time, which is considered normal wear and tear.