# 26 U.S.C. § 2054: Losses

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s2054>. Cite pinpoints as 26 U.S.C. § 2054(a)(1).

For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate losses incurred during the settlement of estates arising from fires, storms, shipwrecks, or other casualties, or from theft, when such losses are not compensated for by insurance or otherwise.

## Regulations

- [Treas. Reg. § 20.2054-1](/26/reg/20.2054-1.md): Deduction for losses from casualties or theft. (interprets § 2054)

## Leading cases

- [Estate of Meriano v. Commissioner, 142 F.3d 651 (3rd Cir. 1998)](https://www.courtlistener.com/opinion/754052/estate-of-philip-meriano-deceased-anita-panepinto-administratrix-v/)
- [Estate of Bryan v. Commissioner, 74 T.C. 725 (1980)](https://www.courtlistener.com/opinion/4705237/estate-of-bryan-v-commissioner/)
- [Estate of Heller v. Commissioner, 147 T.C. No. 11 (2016)](https://www.courtlistener.com/opinion/4563196/estate-of-heller-v-commr/)

## Connections

Cites: § 2001 Imposition and rate of tax

Cited by: § 2053 Expenses, indebtedness, and taxes

Derived from: 1939 § 812(b)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 390