Show i I I i i a i I INCOME TAX FACTS PACTS I s 1 I I COir I I C I 1 NO XO li 18 Loss l arising from front fires shipwreck reck or other casualty or from theft ar ate whether hether or 0 nt not I connected with with tho tapa talpa taxpayers or s a tl It ado adoor adoor or business It If hit his dwelling or auto auto- automobile automobile auto I 1 mobile Is by fire tire lie he h may deduct the loss for tor the icar ear in which It occurred Damage io do-io to a hom home I Ib b b bj direct action ot of a constitute a deductible item Allowance Atlo must of course be made mado for any insurance received The Th term other easu lt the tho meaning of the I evenue act moans I ono one through Ur toe action of I a force torce of nature for a a flood or frostI frostIn frostIn frost frostIn In case cafe of ot a a collision bot a I tl and an automobile used for pleasure or convenience the owner ot the truck in y claim claim a a deduction for tor damage provided pro prot at tho time time tim ot of collision the tho truck was v as being used uso for tor business purpose In such sueh it II case tho time amount expended b tbs thO 0 ner of the tho truck trude for tor Its repair is 18 ded deductible from front his gross Income not nota nota- nota au a a loss from an other casualty but as an on ordinary ordInal an i neCessary expense paid or during the th taxable tU ear Ar In lim the tl carry carry- carryIng carrying ine Ing on of ot a trade or business Ihie owner ncr of ot tile tho th pleasure co cat can ho however evor Is not entitled to such deduction Iii cr err r toas a not being for tor not nOI WAS the los loss sustained by other othor a M 08 defined d above obo Lost Loss Los of ot property pro pert by Ly tl U cit eft or burg burg- burglary burglar burglar I lar lary i Is an allo abl deduction ant an I need not be Le Incurred in trade or busI- busI busIness busi business ness A lots Iou foi tot is also aiso d As At a general rule rul deductions for losses are ar allowed for tor the th vear ear In which sustain sustained cd In exceptional clr- clr cir clr circumstances howe however er and In r ord-r moro more clearly to reflect income th J commissioner of ot Internal re may permit a deduction for a los los lois other than in the th year In which actually sustained The Tb taxpayer Er must nO- nO account ac account count on n his return for tor tho loss In th tho in which sustained It If he h le- le desires de desire sires sire to deduct t the loss as tor for an- an another an another other period ho he must attach to his return a request for tor consideration by bythe bythe bythe the commissioner together r witha with a complete of ot the facts upon abich tho the request Is based |