Protecting Homeowners from Disaster Act of 2023 This bill repeals the current limitation on tax deductions for personal casualty losses. Under current law, such losses are deductible in taxable years 2018-2025 only to the extent that they are attributable to a federally declared disaster.
Referred to the House Committee on Ways and Means.
Taxation
Income tax deductionsLife, casualty, property insuranceTax administration and collection, taxpayers
Protecting Homeowners from Disaster Act of 2023
USA118th CongressHR-318| House
| Updated: 1/12/2023
Protecting Homeowners from Disaster Act of 2023 This bill repeals the current limitation on tax deductions for personal casualty losses. Under current law, such losses are deductible in taxable years 2018-2025 only to the extent that they are attributable to a federally declared disaster.