To all you tax-******-*******s and CPA types.

[batonrougesooner]

So I lost a few big nice trees in my back yard during our latest edition of "Ice Storm 2007". One of them is laying on my roof. My insurance will pay for it's removal from my roof but not the actual removal of the tree from my property. There are also a few trees that I've lost that thankfully have not hit the house (though one is in the pool!).

The question is, can I take a loss against the value of my trees on my taxes this year? It is an uncompensated loss of property secondary to a natural disaster. If so, the next question is how do I establish the value of the trees?

Thanks in advance.

[batonrougesooner]

By the way, I have no idea why my subject line deserved all the askerisks.

I didn't write ****** or ***************.

[sooner_born_1960]

gnouer-abooter is verboten.

[Hamhock]

typically, casualty losses have a floor of 10% of your AGI.

For example, if you Adjusted Gross Income is $100,000, you can't deduct a casualty loss until and only to the extent it exceeds $10,000.

as to the value of your trees, call a greenhouse.

[batonrougesooner]

typically, casualty losses have a floor of 10% of your AGI.

For example, if you Adjusted Gross Income is $100,000, you can't deduct a casualty loss until and only to the extent it exceeds $10,000.

as to the value of your trees, call a greenhouse.

Well that sucks then.

[Hamhock]

Well that sucks then.


That'll be $300.

Thanks and have a nice day!!

[batonrougesooner]

That'll be $300.

Thanks and have a nice day!!

Sorry, but my HMO has negotiated that down to $23.01.

Welcome to my world.

Have a nice day yourself!