MLchartDataset catalogue

Casualty loss

Term · Law · MLC-T-LAW-000887

A financial loss resulting from the damage, destruction, or theft of property due to a sudden, unexpected, or unusual event. This type of loss can be deductible for tax purposes, allowing individuals or businesses to reduce their taxable income. Examples include damage from floods, earthquakes, fires, or vandalism, provided the loss is not covered by insurance.

Table 1. Record
IdentifierMLC-T-LAW-000887
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000887",
  "term": "Casualty loss",
  "field": "Law",
  "definition": "A financial loss resulting from the damage, destruction, or theft of property due to a sudden, unexpected, or unusual event. This type of loss can be deductible for tax purposes, allowing individuals or businesses to reduce their taxable income. Examples include damage from floods, earthquakes, fires, or vandalism, provided the loss is not covered by insurance.",
  "url": "https://mlchart.com/terminology/law/casualty-loss/"
}

Record 698 of 5,439 in Law terminology (MLC-0107). Request the full dataset.