Multiple Choice
In 2017,the U.S.President declared a federal disaster in Arizona due to wild fires.Hamed lives in the affected area and lost his home in the fires.What choice does he have regarding when he can claim the loss on his tax return?
A) It must be claimed in 2016 if the return has not been filed by the date of the loss.
B) It must be claimed in 2017 if the loss is greater than Hamed's modified adjusted gross income.
C) It may be claimed in 2018 if an election is filed with Hamed's 2017 return.
D) It may be claimed in either 2016 or 2017.
Correct Answer:
Verified
Correct Answer:
Verified
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