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  3. 1 a casualty loss is deductible if it occurs in an

1 A casualty loss is deductible if it occurs in an identifiable event that is...

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Accounting

1 A casualty loss is deductible if it occurs in an identifiable event that is the following except

A. Unusual

B. Unexpected

C. Extraordinary

D. Sudden

2 To calculate the net operating loss (NOL) for individuals, all of the following are added back to taxable income except:

A. the deduction for personal exemptions.

B. excess of business deductions over business income.

C. capital loss deduction.

D. any NOL deduction.

3 If a loss is deductible, taxpayers must reduce ordinary income.

True

False

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