General Discussion

pnwmom

(108,978 posts) Sat Dec 16, 2017, 01:53 AM Dec 2017

Does anyone know what the tax bill does to deductions for fire and earthquake damage?

An earlier version allowed deductions for damage due to floods and hurricanes, but not to fires and earthquakes. This would have an immediate impact on tens of thousands of Americans, including those still battling fires in California.

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Does anyone know what the tax bill does to deductions for fire and earthquake damage? (Original Post) pnwmom Dec 2017 OP

That would be outrageous. This is the first I'm marybourg Dec 2017 #1

Have you seen this: marybourg Dec 2017 #2

Yes, I think I did. And it says it "remains to be seen" how the final bill treats deductions pnwmom Dec 2017 #4

I think they are specific exemptions, or merely not mentioned Hekate Dec 2017 #3

marybourg

(12,631 posts)

1. That would be outrageous. This is the first I'm

Reply to pnwmom (Original post)

Sat Dec 16, 2017, 01:58 AM

Dec 2017

hearing about this particular change in deductibility. I followed the deductions closely because of my interest in the medical deduction and haven't read about this one at all. The WaPo had a good summation earlier in the day, perhaps it's updated now to cover this one..