Accidents happen, disasters happen, the unfortunate happens:but do tax deduc

Accidents happen, disasters happen, the unfortunate happens”but do tax deductions for them happen? (Although these may all be very unpleasant events, perhaps some
good can come of them in the form of a tax or loss deduction). Describe one basic category of such deductions or losses, and provide us with an example of it as
well. (As you know, an illustration often serves to make an otherwise difficult concept clearer). Don’t forget to explain any substantial limitations on the
particular deduction and how the amount of the deduction is calculated”those are the types of important details that well be focusing on as we proceed through the
tax law in this course