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Virginians who suffered property damage from recent flooding may qualify for Federal tax deductions, according to Richard E. Simko, Assistant District Director of IRS in Virginia.
“Individuals who suffered property damage due to the flooding may qualify for a casualty loss deduction on their 1985 tax returns,” Simko explained.
Any loss must be reduced by insurance and other reimbursements. The first $100 of a personal loss in
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