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deduction for casualty losses, without distinction between business-related and nonbusiness-related losses For tax years 2018 through 2025, personal casualty losses are otherwise not deductible
Deductions and Losses Certain Business Expenses and Losses ppt download they can claim a theft loss at all during their 2018-2025 tax years The TCJA modified the rules for casualty and theft loss deductions As personal casualty losses are generally disallowed under § 165(h)(5) for 2018 through 2025 (absent personal casualty gains or a federally declared disaster), Taxpayers 4.
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