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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




Tax Years






Contact Person


Phone Number


Estimated Closing Date




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


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