Usufruct
R.S. 47:60

Deductions from gross income; losses by individuals ACTIVE

In computing the net income of an individual, deductions shall be allowed for losses sustained during the taxable year and not compensated for by insurance or otherwise:

(1) If incurred in trade or business; or

(2) If incurred in any transaction entered into for profit, though not connected with the trade or business; or

(3) Of property not connected with the trade or business, if the loss arises from fires, storms, shipwrecks, or other casualty or from theft. No loss shall be allowed as a deduction under this subsection if at the time of filing of the return such loss had been claimed as a deduction for estate tax purposes in the estate tax return.

The basis for determining the amount of deduction for such losses shall be the adjusted basis provided in R.S. 47:139 for determining the loss from the sale or other disposition of property.

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Cite R.S. 47:60

Bluebook
La. Rev. Stat. Ann. § 47:60 (2026).
Permalink
https://theusufruct.com/rs/title-47/section-60
BibTeX
@misc{larevstat-47-60,
  title        = {La. Rev. Stat. Ann. § 47:60},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-47/section-60},
  note         = {Snapshot 2026-05-22}
}