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<Larry Loiseau>
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I know that IRS does not recognize the Trunk Formula Method for casualty loss of trees, etc. Does that also apply to the Cost of Cure approach to valuation.
 
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<Guy>
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Reply to post by Larry Loiseau, on March 19, 2003 at 09:43:23:

Larry wrote: I know that IRS does not recognize the Trunk Formula Method for casualty loss of trees, etc.

I have heard of one case in Florida where it was denied~6 yrs ago. If there have been cases since where tfm survived audit, that would be news.

Larry: Does that also apply to the Cost of Cure approach to valuation.

Look below for a discussion. Short answer might be: ask a tax specialist. Better yet, ask ten and post the range of responses that you get. That'd be interesting.
 
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