Congressional Research Service Issues In Focus White Paper on Casualty & Theft Loss Deduction
January 20, 2024
January 20, 2024
WASHINGTON, Jan. 20 -- The Congressional Research Service issued the following In Focus white paper (No. IF12574) on Jan. 17, 2024, by public finance analyst Brendan McDermott.
Here are excerpts:
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The Casualty and Theft Loss Deduction
The Internal Revenue Code has let some taxpayers deduct unreimbursed losses caused by recent disasters and thefts from their income subject to the income tax. Congress temporarily limited the casualty and the . . .
Here are excerpts:
* * *
The Casualty and Theft Loss Deduction
The Internal Revenue Code has let some taxpayers deduct unreimbursed losses caused by recent disasters and thefts from their income subject to the income tax. Congress temporarily limited the casualty and the . . .