Skip to content
ChatProjectCodes

Introduction

SECTION 4. APPLICATION

Internal Revenue Bulletin 2010-42 · 2026-10-03 edition · updated 2026-10-04 · United States

.01 An individual who pays to repair damage to that individual’s personal residence or household appliances that results from corrosive drywall may treat the amount paid as a casualty loss in the year of payment. For purposes of this revenue procedure, the term “corrosive drywall” means drywall that is identified as problem drywall under the two-step identification method published by the CPSC and the Department of Housing and Urban Development in their interim guidance dated January 28, 2010. As of the date of publication of this revenue procedure, the interim guidance can be found at http://www.cpsc.gov/info/drywall/Inter- imIDGuidance012810.pdf .

.02 The amount of a loss resulting from corrosive drywall may be limited depending on whether the taxpayer has a pending claim for reimbursement (or intends to pursue reimbursement) of the loss through property insurance, litigation, or otherwise. A taxpayer who does not have a pending claim for reimbursement (and does not intend to pursue reimbursement)

Get a plain-English answer with a citation back to this text.

Ask AI about this code
Export this section
▸Contents — Internal Revenue Bulletin 2010-42
Internal Revenue Bulletin 2010-42

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.