Thursday, June 28, 2007
A Letter from Uncle Sam
We recently amended our tax returns for the last three years. There will soon be a big check coming from Uncle Sam or rather his evil cousin the IRS. Our accountant reminded us you can take a deduction for an uninsured casualty loss, and spread it back over three years, and forward as long as it takes.
We waited a long time to do this since we weren't sure if Road Home money counted or how much we might be able to get from that. In the end we decided to simply file for the personal property loss. It was easier to document and not tied up in any of the other programs.
I still expect to be audited.