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Casualty losses can provide a 2017 deduction, but rules tighten for 2018

Casualty losses can provide a 2017 deduction, but rules tighten for 2018

by Capocore Professonal Advisors | Mar 13, 2018 | Individual Tax Brief

If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and Jobs Act suspends this deduction except for losses due to an...
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