Weather damage raises tax implications

Many landowners in Oklahoma and Texas have experienced varying degrees of damage from weather events this spring and summer. Destruction has come in many ways. Winds have damaged or demolished buildings. Flooding has flattened fences by piling up debris. Rock and gravel on internal roads have disappeared while ruts remained due to travel during wet conditions. Landowners making repairs and rebuilding will incur cost. How will these be reported on the 2015 tax return? Read more at The Samuel Roberts Noble Foundation Ag News and Views…