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H.R. 4539

BillFederalHouseIn Committee
To amend the Internal Revenue Code of 1986 to repeal the temporary limitation on personal casualty losses.
About This Bill
Committee
Latest Action · July 11, 2023
Referred to the House Committee on Ways and Means.
Congress
118th (2023–2025)
Introduced
July 11, 2023
Cosponsors (8)
5D 3R
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Summary

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Casualty Loss Deduction Restoration Act This bill eliminates the suspension period (2018 through 2025) for the tax deduction for personal casualty lossess and increases from $10,000 to $50,000 the limitation on allowable amount of the deduction.

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