{"id":359170,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/casualty-pot.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"casualty-pot","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/casualty-pot.html","title":{"rendered":"Casualty Pot"},"content":{"rendered":"\n<div class=\"fl-index-heading\">\n    <p>term:<\/p>\n    <h1 class=\"fl-h1 fl-mb20\"><\/h1>\n\n    <dl class=\"fl-index-heading-description-list\">\n            <dt class=\"fl-mb10\"><p class=\"fl-text-bold\">n<\/p><\/dt>\n        <dd><p><b>:<\/b> a step in calculating tax liability under Internal Revenue Code section 1231 in which qualified casualty gains and losses are added together to determine if the result is a net loss or net gain compare <a href=\"https:\/\/dictionary.findlaw.com\/definition\/main-pot.html\">main pot<\/a> <i>NOTE: Property that qualifies for inclusion in the Casualty Pot consists of casualties of depreciable and real property used in a trade or business for more than one year and capital assets held for more than one year in connection with a trade or business or transaction made for profit. If the net result of the calculation is a loss, then the ordinary rules for gains and losses apply to the casualties. If the net result is a gain, the entire amount passes into the Main Pot. <\/i> <\/p>\n<\/dd>\n<\/dl>\n    <div class=\"fl-index-heading-source\">Source: Merriam-Webster&#8217;s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is &#8216;Casualty Pot&#8217;? Learn more about legal terms and the law at FindLaw.com<\/p>\n","protected":false},"parent":358119,"menu_order":0,"template":"app\/Http\/Controllers\/Templates\/DictionaryArticleController.php","meta":{"_acf_changed":false,"_stopmodifiedupdate":false,"_modified_date":"","_cloudinary_featured_overwrite":false},"dictionary_tags":[],"class_list":["post-359170","dictionary","type-dictionary","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary\/359170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary"}],"about":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/types\/dictionary"}],"up":[{"embeddable":true,"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary\/358119"}],"wp:attachment":[{"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/media?parent=359170"}],"wp:term":[{"taxonomy":"dictionary_tags","embeddable":true,"href":"https:\/\/dictionary.findlaw.com\/law-api\/wp-json\/wp\/v2\/dictionary_tags?post=359170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}