Income Tax Deduction

Income Tax Deduction

PostBy: dll On: Wed Dec 16, 2009 3:33 am

Tax Court Lets DUI Driver Write Off Car Damage

The U.S. Tax Court last week allowed the driver of a car to write off thousands of dollars of damage after he totalled it while under the influence.

While it's not unusual to deduct property damage (this is claimed as a casualty loss deduction on Form 4684), the circumstances of the case--which required a judge to decide if the driver was or wasn't willfully negligent--set it apart.

It also shows that disgruntled taxpayers can challenge the IRS, and win, on some pretty odd cases. ... %3Darticle