From what I have read the "in excess of 10% of AGI" criteria doesnt apply to cauality losses from Hurricane Irma if you you are are in a Hurricane Irma disaster area.
Normally you can only deduct losses in excess of 10% of your AGI but the IRS is making an exception for folks affected by Irma, Harvey and Maria and the 10% rule doesnt apply. Or at least that is my understanding.
Does that sound correct?
Thanks
Frank
Normally you can only deduct losses in excess of 10% of your AGI but the IRS is making an exception for folks affected by Irma, Harvey and Maria and the 10% rule doesnt apply. Or at least that is my understanding.
Does that sound correct?
Thanks
Frank