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Tax Relief for Disaster Losses: No More Deduction Limits

This act removes current limits on deducting personal losses from disasters. This means if your home or property is damaged by a disaster, you can deduct the full amount of your losses from your taxes, potentially providing significant financial relief.
Key points
Eliminates the cap on tax deductions for personal casualty losses due to disasters.
Allows full deduction of disaster-related property losses from taxable income.
Changes apply to losses sustained in tax years beginning after December 31, 2024.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_481
Sponsor: Rep. Brownley, Julia [D-CA-26]
Process start date: 2025-01-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Homeowners from Disaster Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_481.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-16.

What are the main provisions?

Key points include:

  • Eliminates the cap on tax deductions for personal casualty losses due to disasters.
  • Allows full deduction of disaster-related property losses from taxable income.
  • Changes apply to losses sustained in tax years beginning after December 31, 2024.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Brownley, Julia [D-CA-26].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Real Estate