Housing Fiasco of a Different Sort-Casualty Loss Issues

Ed Zollars' Tax Update Podcast

Housing problems are all over the news (and with some of our clients), but today's story is a housing problem of a different sort. We look at a case where lots of things went wrong in building a taxpayers' dream home where the taxpayers attempted to claim a casualty loss on their tax return. In the cases of Grief v. Commissioner and Bui v. Commissioner, TC Summary Opinion 2009-18, the Tax Court finds that this couple is not going to get any relief from the IRC.The materials for this week's podcast can be downloaded at http://www.edzollars.com/2009-02-09_Casualty.pdf .I also note in the podcast that I'm posting updates on Twitter (http://www.twitter.com) . My Twitter name is "edzollars" and if you want to follow me there that's fine.The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .