IRS will let you deduct loss on illegal structure destroyed by fire, earthquake or flood

By Inman News Feed
Add Comment Add Comment | Comments: 0 | Posted Dec. 23, 2013

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What happens if you build a structure without obtaining the necessary permits and it’s later destroyed in a fire? First of all, even if you have fire insurance coverage, you likely won’t be able to collect anything. Fire insurers ordinarily ...

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