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Attachment 1 - Industry Director Directive # 1 on IRC Section 165 Casualty Losses

Attachment 1
Casualty Loss Survey
(Complete a separate Form for each utility subsidiary with casualty losses)

 

Taxpayer Name

                                                              

Utility Name if Different

 

EIN

 

Tax Years

 

Group

 

Industry

 

Contact Person

 

Phone Number

 

Estimated Closing Date

 

POA

 

IRC 165 Casualty Loss Deducted on the Tax Return

 

Book Loss/Expense

 

Is the taxpayer using cost to repair to measure the amount of the casualty loss?
If not, what method is the taxpayer utilizing to value the loss?

 

What is the amount of IRC 162 Repair Expense claimed in connection with the same casualty
event(s)?

 

Single Identifiable Property (SIP) Definition Per Taxpayer, e.g. entire network or a smaller unit of property.  Please explain.

 

Did the taxpayer file a claim to take the deduction, or was the deduction on the filed return?

 

Issue Status

 
Page Last Reviewed or Updated: 21-Nov-2014