### Question
What is the definition of qualified Gulf Opportunity Zone casualty loss?


### Answer
The definition of **qualified Gulf Opportunity Zone casualty loss** is as follows in *26 U.S.C. § 1400N*:

> any uncompensated section 1231 loss (as defined in section 1231(a)(3)(B)) of property located in the Gulf Opportunity Zone if—



(i) such loss is allowed as a deduction under section 165 for the taxable year, and



(ii) such loss is by reason of Hurricane Katrina

#### Citation:
  - *26 U.S.C. § 1400N*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter Y-Short-Term Regional Benefits > PART II-TAX BENEFITS FOR GO ZONES**

