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Taxes - Casulity Losses in Excess of 10% of AGI - Hurricane Irma question

FSUFrank

Veteran Seminole Insider
Dec 29, 2008
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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
 
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