Generally, as with most deductions, a casualty loss is deducted in the year the loss was incurred.
The loss was incurred by the company which staged the huge event.
In a statement, an Access spokesperson says a holding company owned by Blavatnik was the owner of Basell prior to the Lyondell merger and that the returns he ultimately received during his beneficial ownership of that company have nothing to do with the loss he incurred from the merger.
American juries can also award punitive damages that are far in excess of any medical expenses incurred or loss of earnings that can be proven.
The decision, which allows impacted users to file compensatory claims, stems from a 2008 - 2009 incident in which a private German citizen incurred a loss of phone, fax and internet service over a two month period.
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Irwin's said they were making a new bread which "unfortunately incurred more weight loss than was expected" during the baking process.
The jury heard that on 23 October 2008, at a private meeting of Goldman Sachs board members, the board was told the firm had incurred a quarterly loss for the first time in the bank's history.
Air France-KLM incurred a substantial operating loss in 2011 for the fourth straight year, due, among other things, to rising fuel costs, a senior executive said.
At this time, we believe the likelihood that a loss related to this matter has been incurred is remote.
As a result of this transaction, a non-cash impairment loss of approximately JPY 66 billion is expected to be incurred by Sony in the third quarter of the fiscal year ending March 31, 2012, due to the reevaluation of its S-LCD shares.
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There was not enough loss-absorbing capital in the banks to cope with the losses they incurred.
In order to take the loss in 2005, he had to prove that it had not been incurred in a much earlier year.
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So far, publicity around the litigation has centered on players who incurred countless blows to the head and have been diagnosed with dementia and memory loss.
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In such cases the loss is artificially inflated - through the use of "circular loans" or deferred expenditure which is never incurred - to exceed the amount actually invested in the partnership.
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