Casualty loss deduction, individual income tax returns - KPMG United States
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KPMG report: Casualty loss deduction calculations, individual income tax returns

Casualty loss deduction, individual income tax returns

Following the 2017 hurricanes and tropical storms in the United States, the IRS issued guidance for taxpayers accounting for losses incurred on personal real property and belongings. The IRS guidance provides alternative ways to calculate the amount of the loss.


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Read a 2018 report [PDF 81 KB] prepared by KPMG LLP: What’s News in Tax—Update: Casualty Loss Deductions on Individual Income Tax Returns

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