Casualty Loss Deduction 2025. Conversely, however, with the enactment of p.l. Figure your adjusted basis in the property before.


Casualty Loss Deduction 2025

For losses incurred from 2018 through 2025, the tcja generally eliminates deductions for personal casualty losses, except for losses due to federally declared disasters. After you have figured the amount of your casualty or theft loss, you must figure how much of the loss you can deduct.

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